Reporting Portal FAQs : SFT: Statement of Financial Transaction

By | May 29, 2018
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(Last Updated On: May 31, 2018)

Contents

Reporting Portal : FAQs

Version 2.0 (April 2018)

 SFT Preliminary Response submission and view facility has been moved to reporting portal. Kindly go to Reporting Portal under ‘My Account’ menu. Refer to Reporting Portal  https://report.insight.gov.in

1. Overview

1. Who is a Reporting Entity?

Reporting Entity or Reporting Person is an entity which is required to furnish a Statement of Financial  Transaction (in Form 61 A) or Statement of Reportable Account (in Form 61B) with the Income tax  Department as per the provisions of section 285BA of the Income-tax Act 1961. Also, Under Rule  114D of IT rules 1962, any entity/person receiving Form 60 is required to report details of Form 60 in  Form 61.

2. What are the Reporting Obligations u/s 285BA of the IT Act?

Under the Annual Information Return (AIR) Scheme, which was introduced w.e.f. 01-04-2004,
specified entities were required to report notified transactions to ITD. Section 285BA of the IT Act
was amended w.e.f. 01-04-2015, and it now requires specified persons to furnish Statement of
Financial Transaction or reportable account. Under Rule 114D of IT rules 1962, details of Form 60
are required to be reported in Form 61. Rule 114E mentions the nature and value of transactions
which are required to be reported. Rules 114F, 114G and 114H deal with due diligence procedure
for identification and reporting of reportable accounts

3. Is it Mandatory to file NIL Statement?

No. However it is advisable to submit ‘SFT Preliminary Response’.

1.2 Forms Overview

1. What are different forms relating to third party reporting u/s 285BA?
There are three forms namely Form 61, 61A and 61B.
Form61: Details of Form 60 submitted by transacting parties not having PAN
Form 61A: Statement of financial transactions (SFT)
Form61B: Statement of reportable accounts (SRA)

2. What is Form 61?
As per rule 114B of IT rules 1962, an entity is required to obtain PAN of the transacting party. In case  transacting party does not have a PAN, form 60 is to be filled by transacting party. Details of these  Forms are to be reported in form 61 for the period 1st October to 31st March by 30th of April and for the period 1st April to 30th of September by 31st of October

3. What is Form 61A?
As per rule 114E of the IT rules 1962, a Reporting Entity is required to file statement of financial
transaction in form 61A. A Reporting Entity has to report in specified SFT reportable transaction of the nature specified in this rule for the relevant financial year on or before 31st of May immediately  following the financial year.

4. What is Form 61B?
Requirement of filing form 61B arises for implementation of FATCA (Foreign Account Tax
Compliance Act) and CRS (Common Reporting Standard). For this purpose rule 114F, 114G and
114H are to be referred. Briefly, these rules provide for due diligence procedure for identification of
reportable accounts. Once a Reporting Entity identifies reportable accounts, information about such  accounts is to be filed in form 61B for the calendar year by 31st of May following the end of the  calendar year

1.3 Project Insight

1. What is Project Insight?
Income tax Department has initiated Project Insight to focus on three goals namely (i) to promote
voluntary compliance and deter noncompliance; (ii) to impart confidence that all eligible persons pay
appropriate tax; and (iii) to promote fair and judicious tax administration. Under this project, an
integrated data warehousing and business intelligence platform is being rolled out in a phased
manner. The project also operationalizes two new centres namely Income Tax Transaction Analysis
Centre (INTRAC) and Compliance Management Centralized Processing Centre (CMCPC).

2. What is INTRAC?
The Income Tax Transaction Analysis Centre (INTRAC) is the new centre operationalized under
Project Insight. INTRAC leverages data analytics for tax administration and performs tasks related
to data integration, data processing, data quality monitoring, data warehousing, master data
management, data analytics, web/text mining, alert generation, compliance management, enterprise  reporting and research support.

3. What is CMCPC?
The Compliance Management Centralized Processing Centre (CMCPC) is the third CPC of Income
tax Department operationalized under Project Insight. The Compliance Management Centralized
Processing Centre (CMCPC) uses campaign management approach (consisting of emails, SMS,
reminders, outbound calls, letters) to support voluntary compliance and resolution of compliance
issues of tax payers, tax deductors & reporting entities.

1.4 Reporting Portal
1. What is Reporting Portal?
Reporting Portal is an online facility made available to Reporting entities to register with the Income  Tax Department and consequently submit the statements in prescribed format.
2. What are the enhancements in the Reporting Portal over e-filing portal?

The Reporting Portal provides enhancements (over present functionalities on the e-filing portal) in
the following aspects:
i. Seamless data processing & quality monitoring
ii. Data encryption for enhanced security
iii. Seamless information exchange with reporting entities
iv. Comprehensive resources module for capacity building
v. Seamless Reporting Entity compliance management
vi. Dedicated helpdesk support

3. How can Reporting Portal be accessed?
Step 1: Enter Reporting Portal URL in web browser: https://report.insight.gov.in
Step 2: Enter valid credentials provided by Income Tax Department
Step 3: Click on Submit

4. What are the basic features of Reporting Portal?
Following are the basic features of Reporting Portal:
i. Registration – Reporting Entities can register with Reporting Portal & can generate
ITDREIN.
ii. Addition and Deactivation of Users – Reporting Entity can add/deactivate users from
profile section of Reporting Portal.
iii. Reporting Entity Profile Update – Reporting Entity profile can be updated from profile
section of Reporting Portal.
iv. Statement Upload – Reporting Entity can upload statements which have been
generated and validated against prescribed format through utilities.
v. View Uploaded Statements – Reporting Entity can view uploaded statements.
vi. Correction Statement Upload – Reporting Entity can also upload the correction
statements generated as per Data Quality Report.
vii. Preliminary Response Submission – Reporting Entity can submit preliminary response
for different SFTs.
viii. Resources – Reporting Entity can download utilities, user guides and training material.

Other functionalities of the Reporting Portal will be rolled out in a phased manner.

5. Who can access the Reporting Portal?
Access to the various web services at Reporting Portal is role based. Principal Officer of the
Reporting Entity and others who have been authorized by the principal officer can access the portal
and they will be provided a user id and password for login to the Reporting Portal.

2. Registration

1. What is the need to register on Reporting Portal?
Reporting Portal is one of the main components of Project Insight platform to provide a
comprehensive interface between Reporting Entities and the Income-tax Department. The Reporting  Portal will enable the Reporting Entity to avail the various web services provided by the ITD and also  keep track of the status of the various statements uploaded and processed.
2. What are the different categories for Reporting Entities?
There are two set of categories for reporting entities depending upon the form type.

For 61,61A:
M – Mutual Fund
N – NBFC/Nidhi
P – Post Office
R – Reserve Bank of India
S – Securities Market Intermediary
I – Insurer
G – Government
O – Others
C – Co-operative Bank
B – Banking Company
D – Depository

For 61B:
S – Specified Insurance Company
I – Investment Entity
C – Custodial Institution
D – Depository Institution
O – Other

3. How can a Reporting Entity initiate the registration?

The Principal Contact of the Reporting Entity on e-filing portal will initiate the registration by accessing  the Reporting Portal link at e-filing Portal under “My Account” tab. Principal Contact will be redirected  to the Reporting Portal for registration. Principal Contact will identify the authorised persons i.e.  Principal Officer and Designated Director and enter the basic information required. User ids and  passwords will be provided to respective users. They will be able to login on the Reporting Portal using the communicated User id and password.

4. What are the steps in registration?
Step 1: Principal Contact of Reporting Entity logs in to e-filing portal
Step 2: Clicks on Reporting Portal link under “My Account” tab.
Step 3: Select “Form Type” & “Reporting Entity” category
Step 4: Enter Reporting Entity & Other users details
Step 5: Submit the details
For more details refer “Reporting Portal User Guide” in Resources section of Reporting Portal.

5. Can Reporting Entity be registered using both PAN and TAN?
Except Post offices and Property registrar (which do not have a PAN), all other Reporting Entities
must register using their PAN. Post offices & Registrar can register using TAN.
6. What is the use of the ‘Manage Principal Officer’ section which appears while logging
through e-filing portal?
Manage principal officer section is required in following scenarios –
 In case reporting entity does not have a principal officer, and the principal contact wishes to add
a new principal officer.
 In case current principal officer has left the organization and principal contact wishes to change
the existing principal officer.

2.2  Reporting Entity Users

1. Who are the Reporting Entity users?

Principal Officer, Designated director, Nodal officer, Alternate Nodal Officer and other users.

2. Who is the Designated Director and Principal Officer?

As per Explanation 1 to Rule 114E of the Income-Tax Rules, a “Designated Director” means a person designated by the reporting person to ensure overall compliance with the obligations imposed under section 285BA and rules 114B to 114E and includes— (i) the Managing Director or a whole-time Director duly authorised by the Board of Directors if the reporting person is a company; (ii) the managing partner if the reporting person is a partnership firm; (iii)the proprietor if the reporting person is a proprietorship concern; (iv)the managing trustee if the reporting person is a trust; (v) a person or individual, who controls and manages the affairs of the Reporting Entity if the reporting person is, an unincorporated association or, a body of individuals or, any other person. The Designated Director only has the privilege to upload the statement.

Principal Officer” means an officer designated as such by the reporting person.

3. Can Designated Director and Principal Officer be the same person?

Yes. The Principal Contact of the Reporting Entity can assign the role of the Designated Director and Principal Officer to the same person.

4. Who can add/remove users to Reporting Entity?

Only principal officer of reporting entity can add, remove or change other users using the links available in profile section on reporting portal.

5. Are there different roles and privileges for different Reporting Entity users?

Yes. The Roles and privileges will determine the kind of access that will be available to the user.

6. Does reporting entity need to access e-filing portal every time?

Reporting entity need to access e-filing portal only for new registration, managing principal officer and submit preliminary response (in case entity is not registered). Once registration is complete, reporting entity users can directly login to reporting portal.

2.3  Details Submission

1. Whether the Reporting Entity details and Reporting Entity users’ details needs to be submitted separately?

No. It is all part of a single registration process.

2. Is it necessary to provide details of all the users at the time of registration?

No. Only Reporting Entity details and Principal Officer details are mandatory at the time of registration to obtain ITDREIN. Other users can be added from the profile section at Reporting Portal later.

2.4 ITDREIN

1. What is ITDREIN?

ITDREIN is an identification number allotted by the Income Tax Department to a Reporting Entity for reporting on reportable transaction of a specified type. A Reporting Entity may have more than one ITDREIN for each type of reporting obligation.

2.  What is the format of ITDREIN?

The ITDREIN is a system generated 16-character identification number in the format XXXXXXXXXX.YZNNN where

XXXXXXXXXX → PAN or TAN of the Reporting Entity

Y → Code of Form Code

Z → Code of Reporting Entity Category for the Form Code

NNN → Sequence number.

3. How many ITDREINs can a Reporting Entity obtain?

For each unique combination of Form Type and reporting entity category, a unique ITDREIN could be generated.

4.  How to obtain ITDREIN?

Once the registration application for a particular form type and Reporting Entity category is processed and accepted by the Income-tax Department, the system will generate the ITDREIN and communicate the same to the Reporting Entity.

3. Login

3.1  Reporting Portal login

1. Who can log into Reporting Portal?

Users who have been registered as Reporting Entity Users and have obtained a user ID and password after registration can log into the Reporting Portal with the login details.

2. What are the credentials required to login to Reporting Portal?

The User ID required is the PAN of the registered user who is logging into the reporting portal. Please note that the user cannot log in using PAN of a reporting entity. The PAN of the individual user must be entered while logging in.

3.2  Forgot Password

1. How can user retrieve forgotten password?

User can retrieve password by following methods:

1. OTP Based

a. Over Email

b. Over SMS

2. Answer Security Question

For details, please refer “Reporting Portal User Guide.”

4. Reporting Entity & User Profile

4.1 Adding/Deactivating User

1. Who can add/deactivate Reporting Entity users?

Principal Officer can Add or Deactivate other users.

2. How can users be added to Reporting Entity?

Step 1: Login to Reporting Portal

Step 2: Go to “Profile” Section

Step 3: Select “Manage Users”

Step 4: Click on “Add Users”

Step 5: Enter User details

Step 6: Click on Submit

For more details refer “Reporting Portal User Guide” in Resources section of Reporting Portal.

3. How to deactivate any user?

Step 1: Login to Reporting Portal

Step 2: Go to “Profile” Section

Step 3: Select “Manage Users”

Step 4: Select the check box corresponding to the sub-user to be deactivated.

Step 5: Click on deactivate user button.

It is mandatory to have at least one active user (Principal Officer) in Reporting Entity. However, for uploading statements, existence of Designated Director is mandatory.

For more details, refer “Reporting Portal User Guide” in Resources section of Reporting Portal.

4. Can “Principal Officer” be deactivated?

There has to be one active member at least with the Reporting Entity. Principal Officer can deactivate other members. However to change the Principal officer, the Principal Contact of Reporting Entity will need to:

Step 1: Log in to e-filing portal

Step 2: Go to “My Account” tab and click on “Reporting Portal” link

Step 3: User will be redirected to “Reporting Portal”

Step 4: Select “Manage Principal Officer” option and click on “Continue”.

For more details, refer “Reporting Portal User Guide” in Resources section of Reporting Portal.

4.2 Updating Profile details

1. Can principal officer update profile of all the users?

No. The Principal Officer cannot update the profile of other users. However, Principal Officer will approve the profile change request by other users.

2. Who can update the Reporting Entity details?

Principal officer can update the Reporting Entity details (Address & Contact Details). However information under the basic details tab cannot be changed.

3. Will Reporting Entity users’ profile change go for verification to income tax Department?

No. These changes need to be approved by Principal Officer only.

4. How can principal officer approve the changes made by other users?

Step 1: Reporting Entity User logs in to Reporting Portal

Step 2: User selects “Profile” section

Step 3: User selects “Manage Approval” section

Step 4: User will have list view of pending request for approval

Step 5: User can do bulk approval by providing comments in text box given

Step 6: User clicks on “Status” button to view the request detail page

Step 7: User can approve/reject request by providing reason in given text box.

For more details, refer “Reporting Portal User Guide” in Resources section of Reporting Portal.

4.3  Digital Signature

1. What is Digital Signature?

As per Explanation to sub-rule 4(a) of Rule 114E, “Digital Signature” means a digital signature issued by any Certifying Authority authorised to issue such certificates by the Controller of Certifying Authorities. Please refer section “Upload of SFT through Submission Utility” for more details on digital certificate.

2. Whose digital signature is required to sign the XML?

The form is required to be submitted using a Digital Signature Certificate of the Designated Director who will register it from profile section of Reporting Portal upon successful registration.

4.4 Preliminary Response

1. What is Preliminary Response and how is it relevant to Reporting Entities?

Preliminary response can be submitted by the reporting entities to indicate whether they have liability to file SFTs for current financial year. Reporting Entity may select any of the following option for each SFT code:

– Yes (Liable to file statement and having reportable transactions)

– Nil Transactions (No transaction to report)

– Not Applicable (Not liable to file statement)

2. Can both types of Reporting Entities, registered & unregistered submit Preliminary Response?

Yes.

3. How can Reporting Entities submit Preliminary Response?

Following Steps to be followed to submit Preliminary Response (In case entity is not registered):

1. Login to e-filing portal

2. Select “My Account”

3. Go to “Reporting Portal”

4. Select “Submit Preliminary Response” from option displayed

5. Select relevant response from drop down in front of each SFT

6. Submit

Registered Reporting Entities need to submit Preliminary Response through “Profile” section of Reporting Portal.

Please refer “Reporting Portal User Guide” for more details.

4. For which reporting period, reporting entities can submit preliminary response?

Reporting entities can submit the preliminary response for last financial year. For example currently reporting entity need to submit preliminary response for financial year 2017-18.

4.5  Changing Password

1.  Does a user require different passwords for different ITDREIN?

No. There would be a single user id (PAN of that user) and password for a user for different ITDREIN. At the time of login user will be asked for which ITDREIN it wishes to proceed.

2. If a user changes the password for one profile, will it be automatically changed for other profiles for the same entity but different ITDREINs?

Yes.

3. What are the steps to change the password?

Step 1: Reporting Entity User logs in to Reporting Portal

Step 2: Selects “Profile” section

Step 3: Selects “Change Password” section

Step 4: Enters current password

Step 5: Enters new password

Step 6: Confirms new password

Step 7: Submits the details

For more details, refer “Reporting Portal User Guide” in Resources section of Reporting Portal.

5. Statement of Financial Transactions (Form 61A)

5.1 SFT Reporting Obligation

1. What is the legal framework for reporting Statement of Financial Transactions (SFT)?

Section 285BA of the Income Tax requires specified reporting persons to furnish statement of financial transaction. Rule 114E of the Income Tax Rules, 1962 specifies that the statement of financial transaction required to be furnished under sub-section (1) of section 285BA of the Act shall be furnished in Form No. 61A.

2. Who is required to file Statement of Financial Transactions (SFT)?

As per Rule 114E, following persons are required to furnish statement of financial transactions registered or recorded or maintained by them during a financial year to the prescribed authority.

  • Any person who is liable for audit under section 44AB of the Income –tax Act
  • A Banking Company
  • A Co-operative Bank
  • Post Master General of Post office
  • A Nidhi referred to in sec 406 of the Companies Act 2013
  • A Non-banking Financial Company (NBFC)
  • Any Institution issuing Credit Card
  • A Company or Institution issuing bonds or debentures
  • A Company issuing shares
  • A company listed on a recognised stock exchange purchasing its own securities
  • A Trustee of a Mutual Fund or such other person authorized by the trustee
  • Authorized Dealer, Money Changer, Off-shore Banking Unit or any other person defined in FEMA, 1999
  • Inspector-General or Sub-Registrar appointed under Registration Act, 1908

3. What is the periodicity and due date of furnishing statement of financial transaction?

The statement of financial transactions (online return in Form No. 61A with digital signature) shall be furnished on or before 31st of May, immediately following the financial year in which the transaction is registered or recorded. Section 285BA (5) empower the tax authorities to issue a notice to a person who is required to furnish a statement as above and who has not filed the statement within prescribed time, requiring person to furnish the statement within a period not exceeding 30 days from the date of service of such notice and in such case, the person shall furnish the statement within the time as specified in the notice.

4. How can an entity comply with reporting obligation?

To comply with reporting obligation, the statements need to be filed by all reporting entities in a prescribed format and within prescribed timeline.

5. Who needs to file SFT – 013?

Any person whether proprietary concern (Individual) or any other entity liable for Audit Under section 44AB need to file SFT – 013 (Cash payment for goods and services). Please note that No Aggregation of transactions is to be done.

6. What are the consequences of not furnishing statement of financial transactions or reportable accounts?

Failure to furnish statement of financial transaction or reportable account will attract a penalty under section 271FA at the rate of one hundred rupees for every day during which such failure continues.

As per provisions of section 285BA(5), the prescribed Income-tax authorities may issue a notice to a person who is required to furnish such statement and has not furnished the same in the prescribed time, directing person to file the statement within a period not exceeding 30 days from the date of service of such notice and in such case, the person shall furnish the statement within the time specified in the notice.

If such person fails to file the statement within the specified time then a penalty of Rs. 500 for every day for which the failure continues, may be levied from the day immediately following the day on which the time specified in such notice for furnishing the statement expires.

7. What are the consequences of Failure to correct Inaccurate or defective statement of financial transaction or reportable account filed?

As per section 271FAA of the Income-tax Act, if a person who is required to furnish statement of financial transaction or reportable account, provides inaccurate information in the statement, and where:

(a) the inaccuracy is due to a failure to comply with the due diligence requirement prescribed under section 285BA(7) or is deliberate on the part of that person;

(b) the person knows of the inaccuracy at the time of furnishing the statement but does not
inform the prescribed income-tax authority or such other authority or agency;

(c) the person discovers the inaccuracy after the statement is furnished and fails to inform and furnish correct information within a period of 10 days as specified under section 285BA(6),

Then, the prescribed income-tax authority may direct that such person shall pay, by way of penalty, a sum of fifty thousand rupees.

5.2  SFT Reporting Format

1. What is prescribed format for statement of financial transaction (SFT)?

All statements uploaded to the Reporting Portal should be in the XML format consistent with the prescribed schema published by the Income-tax Department. The Reporting entities may use the utilities provided by the Income-tax Department or third party utilities for preparation of XML file. For more details refer “Report Generation Utility User Guides” available in “Resources” section of Reporting Portal.

2. What is a Statement?

A Statement is the file which contains many reports containing details of financial transactions (SFT) (Form 61A). A statement may contain multiple reports.

3. How to identify reportable transactions under SFT?

The first step in  preparation of Statement of Financial Transactions (SFT) is to identify transactions/persons/accounts which are reportable under Rule 114E. In the second step, the reporting person/entity is required to submit details of transactions/persons/accounts which are determined as reportable.

4. What is aggregation rule?

Aggregation rule needs to be applied for specified transaction types to identify transactions/persons/accounts which are reportable. Rule 114E specifies that the reporting person shall, while aggregating the amounts for determining the threshold amount for reporting in respect of any person –

(a) take into account all the accounts of the same nature maintained in respect of that person during the financial year;

(b) aggregate all the transactions of the same nature recorded in respect of that person during the financial year;

(c)  attribute the entire value of the transaction or the aggregated value of all the transactions to all the persons, in a case where the account is maintained or transaction is recorded in the name of more than one person;

The aggregation rule is applicable for all transaction types except SFT- 012 (Purchase or sale of immovable property) and SFT- 013 (Cash payment for goods and services).

5. What are different parts of Form 61A?

Form 61A has two parts. Part A which contains statement level information is common to all transaction types. The report level information has to be reported in one of the following parts (depending of the transaction type):

  • Part B (Person Based Reporting)
  • Part C (Account Based Reporting)
  • Part D (Immovable Property Transaction Reporting)

6. What is Person Based Reporting (Part B)?

Part B shall be used for person based reporting which is relevant to following transactions:

  • SFT- 001: Purchase of bank drafts or pay orders in cash
  • SFT- 002: Purchase of pre-paid instruments in cash
  • SFT- 005: Time deposit
  • SFT- 006: Payment for credit card
  • SFT- 007: Purchase of debentures
  • SFT- 008: Purchase of shares
  • SFT- 009: Buy back of shares
  • SFT- 010: Purchase of mutual fund units
  • SFT- 011: Purchase of foreign currency
  • SFT- 013: Cash payment for goods and services

For determining reportable persons and transactions, the reporting person/entity is required to aggregate all the transactions of the same nature recorded in respect of the person during the financial year (refer to the applicability of aggregation rule). In a case, where the transaction is recorded in the name of more than one person, the reporting person/entity should attribute the entire value of the transaction or the aggregated value of all the transactions to all the persons.

The reporting person/entity is required to submit details of persons and transactions which are determined as reportable. The reporting format also enables reporting person/entity to furnish information relating to each individual product within a product type. E.g: if a person has multiple credit cards and the aggregate value of the transactions in all credit cards exceeds the threshold value, the aggregate transaction value will be reported in section B3 of form 61 A and the transactions pertaining to individual credit cards can be reported in section B4 of form 61 A.

7.  What is Account Based Reporting (Part C)

Part C shall be used for account based reporting which is relevant to following transactions:

  • SFT- 003: Cash deposit in current account
  • SFT- 004: Cash deposit in account other than current account
  • SFT- 014: Cash deposits during specified period (9th Nov to 30th Dec, 2016).

For determining reportable persons and accounts, the reporting person/entity is required to take into account all the accounts of the same nature maintained in respect of that person during the financial year and aggregate all the transactions of the same nature recorded in respect of the person during the financial year (refer to the applicability of aggregation rule). In a case where the account is maintained in the name of more than one person, the reporting person/entity should attribute the entire value of the transaction or the aggregated value of all the transactions to all the persons. In case of SFT- 003 (Cash deposit or withdrawals in current account), the threshold limit has to be applied separately to deposits and withdrawals in respect of transactions. After identification of reportable persons and accounts, the reporting person/entity is required to submit details of accounts which are determined as reportable. Part C3 of the form 61 A has details of the accounts that need to be reported along with the aggregate transaction values. Aggregation of transaction has the same definition as explained in person based accounting.

8. What is Immovable Property Transaction Reporting (Part D)?

Part D shall be used for reporting of purchase or sale of immovable property (SFT- 012). The reportable immovable property transactions have to be determined by applying the threshold limit. The reporting person/entity is required to submit specified details of immovable property transactions which are determined as reportable.

9. What are different Statement types?

One Statement can contain only one type of Statement. Permissible values for type of Statement are:

  • NB – New Statement containing new information
  • CB – Correction Statement containing corrections for previously submitted information
  • DB – Deletion Statement for deletion of previously submitted information
  • ND – No Data to report

10. What is the difference between Statement Number and Statement ID?

Statement Number is a free text field capturing the sender’s unique identifying number (created by the sender) that identifies the particular Statement being sent. The identifier allows both the sender and receiver to identify the specific Statement later if questions or corrections arise. After successful submission of the Statement to ITD, a new unique Statement ID will be allotted for future reference. The reporting person/entity should maintain the linkage between the Statement Number and Statement ID. In case the correction statement is filed, statement ID of the original Statement which is being corrected should be mentioned in the element ‘Original Statement ID’. In case the Statement is new and unrelated to any previous Statement, ‘0’ will be mentioned in the element ‘Original Statement ID’.

11. What is original statement Id?

Statement ID of the original Statement which is being replaced deleted or referred by reports in the current Statement. In case the Statement is new and unrelated to any previous Statement, mention ‘0’ here.

12. What is Report Serial Number?

The Report Serial Number uniquely represents a report within a Statement. The Report Serial Number should be unique within the Statement. This number along with Statement ID will uniquely identify any report received by ITD. In case of correction, the complete report has to be resubmitted. The Report Serial Number of the original report that has to be replaced or deleted should be mentioned in the element ‘Original Report Serial Number’. This number along with Original Statement ID will uniquely identify the report which is being corrected. In case there is no correction of any report, ‘0’ will be mentioned in the element ‘Original Report Serial Number’.

13. What is Original Report Serial Number?

The Report Serial Number of the original report that has to be replaced or deleted. This number along with Original Statement ID will uniquely identify the report which is being corrected. In case there is no correction of any report, mention ‘0’ here.

14. What needs to be captured in Form 61 Acknowledgement No.?

If reporting person/entity has received declarations in Form 60 in respect of transactions listed in Rule 114E, Form 61 is required to be furnished to ITD. As mentioned in Chapter I, on successful loading of Form 61 (containing the particulars of Form 60), an Acknowledgement No. would be generated which has to be mentioned at the time of filling Form 61A. Hence, unless Form 61 has been furnished, Reporting person/entity may face difficulty in filling Form 61A. Accordingly, it is to be ensured that Form 61 is furnished to the Department before Form 61A is filled.

5.3 Preparation of SFT using Report Generation Utility

1. What is a Report Generation Utility?

Report Generation Utility is a desktop utility based on java. The utility enables user to generate and validate XML file which is to be submitted to Income-tax Department.

2. How to download and install the Report Generation Utility on a windows platform?

The Report Generation Utility can be downloaded from “Resources” section of the Reporting Portal. The downloaded zip file has to be extracted using WinZip or Win RAR tools.

3. Is any other software required to be installed to use Report Generation Utility?

Yes. Report Generation Utility requires JRE to run on Windows based operating system. Download and install JRE version 1.8 Update 101 or later.

4. How to run the Report Generation Utility?

Step 1: Unzip the downloaded utility

Step 2: Click on Form61A.jar file to run the utility.

5. How to Export CSV from the Utility?

Steps to import CSV are:

1. Open 61A utility

2. Select relevant SFT Code

3. Go to Reports Details or Account Details

4. Export CSV and Save

For any further assistance please refer to the “Report Generation Utility Guide-61A” under “Resources” section of reporting portal.

6. How to prepare a statement using Report Generation Utility?

Step 1: Go to Reporting Portal at https://report.insight.gov.in

Step 2: Download Report Generation Utility from “Resources” section

Step 3: Select the Transaction Type (for Form 61A) on Instructions window

Step 4: Capture Statement Details and other relevant details depending upon the form type

For more details refer “Report Generation Utility User Guides” in Resources section of Reporting Portal.

7. How to capture data in the Report Generation Utility?

Data can be captured either by data entry or by importing CSV.

8. How to load an existing XML file?

9.  Select the saved XML file using the Open button from the tool bar.

10. What date format should be used while filling CSV?

User should use DD-MM-YYYY format while entering data in CSV. If date is entered in incorrect format, the CSV will not be imported successfully.

11. Can data be saved before generating the XML file in Report Generation Utility?

Yes. User can save the data using the “Save” button in the tool bar. The data is saved with a draft extension. To retrieve the saved data in the utility, use the “Open” button from the tool bar.

12. How to capture information for an account with more than one account holder?

For an account with more than one account holder, a user needs to enter multiple record rows, where account details (including “Report Serial Number”) will be repeated for each account holder. The utility will automatically create reports with unique Report Serial Number.

13. How to view information after importing CSV?

After successful CSV import, data is visible in the relevant tabs of the utility.

14. If corrections have to be made only to a statement, keeping reports unchanged, should the reports also be submitted along with the corrected statement?

No, if there are issues in Part A of the Statement, you do not need to submit the reports. In this case, the Number of Reports field will be set to 0.

15. Form 61A was uploaded with Statement type “ND” and a DQR issue was reported on it afterwards. But some reportable data pertaining to this statement was received later. What should be the status of the already issued DQR in this case?

The DQR issued on ND will be closed. However, a new DQR can be generated on the data received later.

16.  If the Reporting Entity wants to delete/correct the statement or report details that were wrongly reported, what is the corrective procedure?

Separate facility to delete any report is not provided in the purview of Form 61A reporting. If Reporting Entities wants to correct any statement or report uploaded earlier, they must select “CB” as the Statement type and submit the modified/ updated statement/ report.

5.4  Preparation of Deletion Statement

1. What is deletion statement? Why it is required?

Reporting entities has been provided with a facility to delete previously submitted reports due to any of the following reasons:

  • Deleting Reports as they were not required to be reported
  • Deleting Reports as they are already reported in other / same statement (Duplicate reporting)
  • Others

Reporting entities need to prepare a deletion statement which will consist of the reports to be deleted in original statement.

2. Which statement to be referred while deleting reports?

Original Statement should be referred while deleting the reports.

3. What are the steps to prepare deletion statement in report generation utility?

Step by step process to prepare deletion statement (DB) is as follows:

1. Click on “Open” button to populate original statement XML in the utility.

2. Click the Statement (Part A) tab.

3.  From the Statement Type drop-down list, select DB – Deletion Statement for deletion of Mention the statement ID of the original Statement in the Original Statement ID field from which the reports are being deleted.

4.  Mention the statement ID of the original Statement in the Original Statement ID field from which the reports are being deleted.

5.  Deletion statement should contain only those reports which are to be deleted from original statement. Reports which are not to be deleted from original statement should be removed from populated XML in utility.

6. Select row and click on “Delete Row” to remove report from the utility.

7. Copy the “Report Serial Number” and paste it in “Original Report Serial Number” field for all the reports to be deleted.

8.  As the final step, click Generate XML on the toolbar to generate the deletion statement’s XML.

4. Whether Data Quality Report (DQR) will be generated on Deletion Reports also?

System will reject the reports in deletion statement if the attributes provided in the deletion report do not match with the original reports’ attributes. Same shall be communicated to reporting entity in data quality report. Reporting entities need to file a new deletion statement for rejected reports as mentioned in DQR.

5. Is partial deletion allowed for already submitted reports?

Yes, Partial deletion is allowed for already submitted reports. Deletion statement should contain only those reports which are to be deleted from original statement. Reports which are not to be deleted from original statement should be removed from populated XML in utility.

5.5  Validation of SFT using Report Generation Utility

1. What is the purpose of Statement Validation?

Validation is a process of applying the data input rules to ensure that the data is in the prescribed format. Errors in data entry will be highlighted during the process of validation.

2. How can a statement be validated?

Step 1: Click on “Validate” button on the tool bar

Step 2: Utility will display validation errors on “Validation” Tab

Step 3: Click on Validation row to see details of Validation errors on the right window pane of screen

Step 4: Click on any particular validation error from list, utility will show the field highlighted in red, where corrections can be made

Step 5: Fix the errors and then click on Validate button again

Step 6: If there are no validation errors, “Validation Successful” dialog box is displayed to the user. In addition, certain validations will be applied by the Income Tax Department at their end.

For more details refer “Report Generation Utility User Guides” in Resources section of Reporting Portal.

3. Is it mandatory to validate the statement?

Yes. Otherwise, statements with validation errors will be rejected in data quality check.

4. What are various types of validation errors?

The errors have been classified as mandatory errors, defects and exceptions.

5. What are mandatory errors?

Mandatory errors need to be resolved by user for successful generation of XML report. These are generally schema level errors. For resolving these type of errors, the data filled should be as per the Form 61A schema validation.

6. What are defects?

Defects can be Statement level defects or Report level Defects. Statement Defects are those which render the Statement (Part A) defective. Such Statements will be rejected and the Reporting Entity needs to resubmit the statement. Report defects are those which render a particular report(s) (Part B/C/D) as defective in the statement. A statement may have multiple reports and only reports with defects would be rejected. The Reporting Entity needs to correct and submit the reports again in the corrected statement.

7. What are exceptions?

Exceptions do not result in the statement/report being rejected. The exceptions should be reviewed by the reporting person/entities and if any information is available, the Reporting Entity may provide the information.

8. How to identify validation errors?

When user clicks on the validate button, validation summary is displayed in the Validation Error tab. On selecting a particular row on the validation error screen, error details are displayed on the section on the right side. On selecting the error, user is directed towards the erroneous field on the screen.

9.  How to rectify validation errors?

User can navigate to erroneous fields via Validation Error Details section on the right side of the screen. Erroneous fields are highlighted in Red and are editable for user to correct.

5.6  Generation of SFT using Report Generation Utility

1. How to generate and save the statements?

Step 1: Click on Generate XML button on the toolbar.

Step 2: If there are no validation errors, user needs to provide the path to save generated XML.

2. What is the extension of generated XML file?

Generated XML file should have ‘.xml’ extension.

5.7  Upload of SFT through Submission Utility

1.  How to download submission utility?

The submission utility can be downloaded from “Resources” section of the Reporting Portal. The downloaded zip file has to be extracted using WinZip or WinRAR tools.

2. Is any other software required to be installed to use Report Generation Utility?

Yes. Submission utility requires JRE to run on Windows based operating system. Download and install JRE version 1.8 Update 101 or later.

3. How to run submission utility?

Step 1: Unzip the downloaded utility

Step 2: Click on Submission_Utility.jar file to run the utility.

4. What is digital signature?

A digital signature is an electronic form of a signature that helps in authenticating the identity of the sender of a message or the signer of a document. It also ensures that the message being sent is not modified by an unauthorized party. Digital signatures are easily transportable and cannot be imitated by someone else.

5. How to view and save the digital signature certificate?

To view and save a digital signature certificate, perform the following steps:

Step 1: Open Internet Explorer

Step 2: Go to Settings >> Internet Options

Step 3: On the Internet Options pop-up, select the tab Content and then click the button Certificates

Step 4: A list of certificates is displayed on a new pop-up. Select the required certificate and click the Export button. Select the location where you want to save the certificate.

Step 5: The Certificate export wizard opens. Click Next to continue on the subsequent screens.

Step 6: On completing the wizard, Export Successful message is displayed.

Step 7: To sign a statement using the exported certificate, use the Submission Utility.

6. What are the steps to digitally sign the generated XML using submission utility?

Step 1. Go to “Secure XML” tab in submission utility

Step 2. Browse statement XML

Step 3. Click on “Generate Package” button (DSC should be connected to the system through USB while generating package)

Step 4. Select the certificate displayed in insight signer window

Step 5. Click on “Sign”

Step 6. Enter the password

Step 7. Save the package

7. What is the extension of digitally signed package?

Digitally signed package shall be saved as “.tar.gz” extension.

8. Can digital signature certificate be copied?

A Digital Signature Certificate cannot be used without having a private key. The private key should always be password-protected and not to be shared over a network.

9. If a reporting entity does not have a digital signature, does this mean it cannot file the statement?

It is mandatory to digitally sign the XML else at the time of upload system will throw an error.

10. Who is the signatory authority for signing the statement XML?
Statement XML has to be signed by designated director’s DSC.

11. Which class of DSC should be used while signing the XML?

DSC should be of Class II or III only, issued by CCA approved certifying agencies in India.

12. Is it mandatory to sign the statement XML with the same digital certificate which has been registered with ITD?

Yes, Registered digital certificate and the certificate with which statement XML is being signed should be same otherwise system will throw an error at the time of statement upload.

13. What are the steps to submit the statement through submission utility?

Step 1: Go to “Statement >> Statement Upload” tab in submission utility

Step 2: Enter user name and password

Step 3: Select the form type to be uploaded and enter “ITDREIN”

Step 4: Select SFT code (Only for form type 61A), “Reporting Period Ending On” & “Type of Filing”

Step 5: Enter original statement id (only in case correction statement is being filed)

Step 6: Attach the report and Click on “Validate”

Step 7: If no manifest error displayed, “Upload” button will be displayed.

Step 8: Click on “Upload”

14. Can DQR be downloaded through submission utility?

Yes, DQR can be downloaded through submission utility

5.8 Upload of SFT on Reporting Portal

1. What are the steps to submit a Form 61A statement at reporting portal?

Step 1: Once statement XML is generated, sign and encrypt the XML using the Submission utility and prepare secure statement package to be uploaded (Refer submission utility user guide).

Step 2: Go to “Upload Statement” section under “Statement” tab

Step 3: Fill out the “Upload Statement” form (Depending upon Form 61, 61A, or 61B; the fields may differ)

Step 4: Select the “Filing Type” from drop down

Step 5: Enter original statement id (only in case correction statement is being filed)

Step 6: Attach the report and Click on “Validate”

Step 7: If no manifest error is shown, Click on displayed “Upload” button

Step 8: Upon successful submission, an email with “Acknowledgment Number” will be sent to the registered email id.

For more details, refer “Report Generation User Guide-61A”, “Reporting Portal User Guide” in Resources section of Reporting Portal.

2. Who can submit the statement?

Only Designated Director of Reporting Entity can submit the statement.

3. What are the different manifest level errors which should be taken care of at the time of statement upload?

Following manifest level errors should be checked and rectified at the time of statement upload:

1. ITDREIN should be valid and must be in correct format.

2. Selected form type should match with the actually prepared form (61,61A or 61B).

3. Reporting Period mentioned in statement XML should match with reporting period as selected in upload form.

4. Filing type selected in upload form should match with filing type prepared statement.

5. In case correction statement is being filed, reference of the “Original Statement Id” must be provided.

6. In case statement type is “ND”, value of “Number of Reports” field should be 0.

7. In case statement type is “NB”, value of “Number of Reports” field should not be 0.

Please refer “Report Generation Utility User Guide” for more details about manifest, file and record level validations errors.

4. What are the different file level errors which should be taken care of at the time of statement upload?

Following file level errors should be checked and rectified at the time of statement upload:

1. XML file should be properly decrypted using digital certificate

2. XML file must be signed by valid digital signature which should be registered with ITD

3. XML file should be free of any threats

4. XML file should be free from any viruses

5. XML file should be as per the form 61A schema guide (refer Schema validation section)

Please refer “Report Generation Utility User Guide” for more details about manifest, file and record level validations errors.

5.9 Data Quality Report (DQR)

1. What is Data Quality Report (DQR)?

The Data Quality Report contains details of the data quality errors present in the statement submitted by the Reporting Entity. DQR helps Reporting Entity(s) in identifying the errors in data submitted.

2. Why is Data Quality Report (DQR) required?

The report cannot be considered accurate if there are data quality errors. It is mandatory for Reporting Entities to file accurate reports in the prescribed formats as per law. Failure to comply with the provisions of law may attract penal provisions.

3. What should be Reporting Entity’s next course of action after receiving DQR?

Step 1: Download the DQR from Reporting Portal.

Step 2: Correct the statement for removal of Data quality errors using the offline utility as mentioned in DQR

Step 3: Validate and submit the correction statement.

Step 4: Upon successful submission, an email with “Acknowledgment Number” will be sent to the registered email id.

Step 5: Download the data quality report, if any.

Step 6: Repeat steps 1 to 5 till there are no more data quality errors.

Kindly refer “SFT Report Generation User Guide-Form-61A” for detail process of generating correction statement.

4. What is RRC?

RRC stands for Report Requiring Correction. It is a field that will display the number of reports which are yet to be rectified in original statement. RRC field and count can be viewed under “Statements Pending for Correction” tab on reporting portal. Reporting entity need to ensure to reduce RRC (Report Requiring Correction) count to zero by rectifying all the defective reports.

5. What is Incorrect ITDREIN (40010)?

Issue Description – Incorrect ITDREIN (40010) is the issue raised when ITDREIN in the statement does not match with the ITDREIN mentioned while uploading the statement.

Action required – Please submit the statement using the correct ITDREIN.

6. What is Incorrect Form Name (40020)?

Issue Description – Incorrect Form Name (40020) is the issue raised when Incorrect Form name is entered while uploading the statement.

Action required – Please submit the statement with Form Name as Form 61A.

7. What is Incorrect Original Statement ID for CB (40030)?

Issue Description – Incorrect Original Statement ID for CB (40030) is the issue raised when the original statement ID mentioned in the correction statement (CB) does not match with the statement ID of original statement (NB).

Action required – Please submit the statement with correct original statement ID

8. What is Incorrect Original Statement ID for DB (40031)?

This issue is raised when The original statement ID mentioned in the Deletion statement (DB) does not match with the statement ID of original statement (NB).

9. What is Inconsistent Statement Type ND for submitted reports (40040)?

This issue is raised when Statement type is “ND” for a statement where number of reports is greater than 0

10. What is Inconsistent Statement Type NB for nil reports (40041)?

This issue is raised when Statement type is “NB” for a statement where number of reports is 0

11.  What is Inconsistent Statement Type (40042)?

This issue is raised when the statement type selected while uploading the statement does not match with the statement type mentioned in the statement.

12.  What is Inconsistent Original Statement ID for new statement (40050)?

This issue is raised when Original statement ID is not 0 for a new statement (NB).

13.  What is Inconsistent Original Statement ID for No Data statement (40051)?

This issue is raised when Original statement ID is not 0 for a new statement with no data to report (ND).

14. What is Inconsistent Reason for correction for NB (40060)?

This issue is raised when Reason for correction is other than “N” (Not applicable) for the Statement type “NB”

15. What is Inconsistent Reason for correction for ND (40061)?

This issue is raised when Reason for correction is other than “N” (Not applicable) for the Statement type “ND”

16. What is Inconsistent Reason for correction for CB (40062)?

This issue is raised when Reason for correction is “N” (Not applicable) for the Statement type “CB”

17. What is Inconsistent Reason for correction for DB (40063)?

This issue is raised when Reason for correction is other than “N” (Not applicable) for the Statement type “DB”

18. What is Inconsistent Reporting Period for NB & ND (40070)?

This issue is raised when The Reporting Period mentioned in statement does not relate to Reporting Period selected on Portal while uploading the statement.

19. What is Inconsistent Reporting Period for CB (40071)?

This issue is raised when the reporting period in Statement Type “CB” (Correction Statement) does not match with the reporting period of the original statement (Statement Type “NB”).

20. What is Inconsistent Reporting Period for DB (40073)?

This issue is raised when the reporting period in Deletion statement (DB) does not match with the reporting period of the original statement (NB).

21. What is Inconsistent SFT code for CB (40080)?

This issue is raised when the SFT Code in Statement Type “CB” (Correction Statement) does not match with the SFT Code of the original statement (Statement Type “NB”).

22. What is Inconsistent SFT code for DB (40081)?

This issue is raised when the SFT Code in Statement Type “DB” (Deletion statement) does not match with the SFT Code of the original statement (Statement Type “NB”).

23. What is Inconsistent SFT code (40082)?

This issue is raised when the SFT Code selected while uploading the statement does not match with the SFT code mentioned in the statement.

24. What is Inconsistent Report type – AF (40090)?

This issue is raised when the Report type “AF” does not match with the SFT code of the submitted statement.

25. What is Inconsistent Report type – BA (40091)?

This issue is raised when the Report type “BA” does not match with the SFT code of the submitted statement.

26. What is Inconsistent Report type – IM (40092)?

This issue is raised when the Report type “IM” does not match with the SFT code of the submitted statement

27. What is Failed Decryption (50002)?

The file received from reporting portal is decrypted

28. What is Failed Decompression (50003)

Decompressing the received file to its original form.

29. What is Failed Signature Check (50004)?

The digital signature on the received file is validated.

30.  What is Failed Threat Scan (50005)?

The received file should be free of any threats

31.  What is Failed Virus scan (50006)?

The received file should be free from any viruses.

32.  What is Failed Schema Validation (50007)?

The received file should be as per the form 61A schema guide (refer Schema validation section).

33. What is Signature not Uploaded (50021)?

The user has not uploaded the digital signature certificate file on the Reporting portal.

34. What is Signature Expired (50022)?

The digital signature certificate has been expired.

35. What is Failed Original Report Serial Number in CB (61A_98000)?

Failed Original Report Serial Number in CB (61A_98000) is the issue raised when Original Report Serial Number for Statement Type “CB” (Correction Statement) does not match with the report serial number as mentioned in the Original Statement (Statement Type “NB”) submitted earlier.

36. What is Failed Original Report Serial Number in DB (61A_98002)?

This issue is raised when Original Report Serial Number for Statement Type “DB” (Deletion Statement) does not match with the report serial number as mentioned in the Original Statement (Statement Type “NB”) submitted earlier.

37. What is Failed Original Report Serial Number in CB after Deletion (61A_98003)?

This issue is raised when Original Report Serial Number mentioned in Statement Type “CB” (Correction Statement) corresponds to the report already deleted.

38. What is Blank Customer ID (61A_98010)?

This issue is raised when Customer ID is not provided for reports filed under SFT-003, SFT-004, SFT-005, SFT-006, SFT-010, SFT-011 and SFT-014. It may be provided, if available.

39. What is Blank Father’s Name for individual without PAN (61A_98020)?

This issue is raised when Father’s Name is blank and PAN is not provided. Father’s Name is mandatory if PAN is not provided.

40. What is No PAN (61A_98030)?

This issue is raised when PAN not provided for person who has neither submitted Form 60 or who is exempted under Rule 114B. This defect can be resolved by either providing PAN or selecting person type as IE, HE, LE or GO (as applicable) or by providing the Form 60 acknowledgement number.

41. What is Invalid PAN (61A_98031)?

This issue is raised when there is Invalid PAN (not in valid format/ does not match with the PAN database)

PAN should be of format: CCCCCNNNNC; where C denotes the alphabets and N is numeric.

This defect can be resolved by either providing correct PAN or selecting person type as IE, HE, LE or GO (as applicable) or by providing Form 60 acknowledgement number.

42. What is Modified PAN (61A_98032)?

This issue is raised when Valid PAN/ PAN(s) has been changed (added/deleted) in Statement Type “CB” (Correction Statement). The modification in PAN may be verified and if it was not intended, correction statement may be filed again.

43. What is Duplicate PAN in person based reporting (61A_98033)?

This issue is raised when details for same PAN (B.2.6) is reported more than once in same statement. As “Part B” relates to Person based reporting, the information has to be aggregated at PAN level. Presence of duplicate PAN in Part B is considered as duplicate reporting.

44. What is Invalid Aadhaar Number (61A_98040)?

This issue is raised when there is Invalid Aadhaar Number format (12 digits).

45. What is Wrong Aadhaar Number ((61A_98041)?

This issue is raised when Wrong Aadhaar Number is provided

46. What is Failed Form 60 Acknowledgment Number for no PAN case (61A_98050)?

This issue is raised when Form 60 acknowledgement number is not provided for the cases where Person Type is selected as “IE” (Individual without PAN which has submitted Form 60 or who is exempted under Rule 114B) or “HE” (HUF without PAN which has submitted Form 60).

47. What is Failed Identification Type for no PAN case (61A_98060)?

This issue is raised when Identification type is not provided and PAN is also not provided.

48. What is Failed Identification Number for no PAN case (61A_98061)?

This issue is raised when Identification number is not provided and PAN is also not provided.

49. What is Failed DOB/DOI for no PAN case (61A_98070)?

This issue is raised when Date of birth/ incorporation is blank and PAN is not provided.

50. What is Failed Date of Birth Range (61A_98072)?

This issue is raised when Date of birth is not in valid range (for individual) and PAN is not provided/ Invalid PAN provided.

Valid date of birth range = from 01.01.1900 to end of reporting period.

51. What is Failed Address type (61A_98090)?

This issue is raised when No value/ incorrect value is reported in “Address Type”.

52. What is Invalid Postal code – India (61A_98092)?

This issue is raised when Invalid postal code is provided when country selected is India.

53.  What is Wrong Postal code – India (61A_98093)?

This issue is raised when Wrong postal code is provided when country selected is India. Pin code provided should be linked to state and locality.

54.  What is Insufficient Address (61A_98094)?

This issue is raised when Address appears to be Insufficient /incomplete.

55. What is Failed Mobile No – India (61A_98100)?

This issue is raised when Incorrect mobile number format is provided when country selected is India. It should be 10 digit mobile Number and should start from 5, 6, 7, 8 or 9

56. What is Failed Mobile No – Outside India (61A_98101)?

This issue is raised when Incorrect mobile number format is provided when country selected is outside India. Maximum 15 digits are allowed.

57. What is Failed Contact details (61A_98102)?

This issue is raised when No Contact details are provided

58. What is Failed Product type (61A_98110)?

This issue is raised when Details related to Product type are not provided.

59.  What is Inconsistent Product type (61A_98111)?

Product type is not consistent with the SFT Code.

BD – Bonds or Debentures (SFT-007)

CC- Credit Card (SFT-006)

DD – Bank draft or pay order or banker’s cheque (SFT-001)

PI – Prepaid Instrument (SFT-002)

FC – Foreign Currency sale (SFT-011)

MF – Mutual Fund (SFT-010)

SI – Shares issued (SFT-008)

SB – Shares bought back (SFT-009)

TD – Time Deposit (SFT-005)

ZZ – Others (SFT-013)

XX – Unspecified (SFT-013)

60.  What is Failed reporting of aggregate gross amount received from the person (61A_98120)?

This issue is raised when No data is reported for the field “Aggregate gross amount received from the person”.

61.  What is Aggregate gross amount received is less than amount received in cash (61A_98121)?

This issue is raised when Aggregate gross amount received from the person (B.3.2) is less than Aggregate gross amount received from the person in cash (B.3.3).

62.  What is Aggregate gross amount received is less than product level aggregation (61A_98122)?

This issue is raised when “Aggregate gross amount received from the person” (B.3.2) is less than the sum of “Aggregate gross amount received from the person” (B.4.3).

63. What is Exceptional gross amount received from the person (61A_98123)?

This issue is raised when Amount reported is greater than 100 crores

64. What is Modification in aggregate gross amount received from the person (61A_98124)?

This issue is raised when “Aggregate gross amount received from the person” has been changed in Statement Type “CB” (Correction Statement).

65.  What is Failed reporting of aggregate gross amount received from the person in cash (61A_98130)?

This issue is raised when No data is reported for the field “Aggregate gross amount received from the person in cash”.

66.  What is Aggregate gross amount received in cash is less than product level aggregation (61A_98131)?

This issue is raised when “Aggregate gross amount received from the person in cash” (B.3.3) is less than the sum of “Aggregate gross amount received from the person in cash” (B.4.4).

67.  What is Exceptional gross amount received from the person in cash (61A_98132)?

This issue is raised when Amount reported is greater than 100 crores.

68.  What is Modification in aggregate gross amount received from the person in cash (61A_98133)?

This issue is raised when “Aggregate gross amount received from the person in cash” has been changed in Statement Type “CB” (Correction Statement).

69. What is Aggregate gross amount paid is less than product level aggregation (61A_98140)?

This issue is raised when “Aggregate gross amount paid to the person” (B.3.4) is less than the sum of “Aggregate gross amount paid to the person (B.4.5)”

70. What is Exceptional gross amount paid to the person (61A_98141)?

This issue is raised when Amount reported is greater than 100 crores.

71. What is Modification in aggregate gross amount paid to the person (61A_98142)?

This issue is raised when “Aggregate gross amount paid to the person” has been changed in Statement Type “CB” (Correction Statement).

72. What is Truncated Account Number (61A_98160)?

This issue is raised when Account Number is less than 4 digits

73. What is Invalid Account Number (61A_98161)?

This issue is raised when Account Number contains invalid character (‘E+’)

74. What is Modification in Account Number (61A_98162)?

This issue is raised when Account number has been changed in Statement Type “CB” (correction statement).

75. What is Duplicate Account Reporting (Part C) (61A_98170)?

This issue is raised when Details for same account (Same Branch Reference Number (C.2.5) + Account Number (C.2.2)) is reported more than once in same statement. This indicates duplicate reporting of account

76. What is Failed Branch Address (61A_98180)?

This issue is raised when Branch Address is not provided.

77. What is Failed aggregate gross amount credited to the account in cash (61A_98190)?

This issue is raised when No data reported for the field “Aggregate gross amount credited to the account in cash”.

78. What is Aggregate gross amount credited to the account in cash is less than part period amount (61A_98191)?

This issue is raised when Aggregate gross amount credited to the account in cash (C.3.1) is less than Total of Aggregate gross amount credited to the account in cash from 1st day of April, 2016 to 8th November, 2016 (C.3.3) and Aggregate gross amount credited to the account in cash from 9th day of November, 2016 to 30th day of December, 2016 (C.3.4).

79. What is Exceptional aggregate amount credited in cash – Current account (61A_98192)?

This issue is raised when Amount reported is greater than 1000 crore for Account type “BC” (Current Account).

80.  What is Exceptional aggregate amount credited in cash- Other than current account (61A_98193)?

This issue is raised when Amount reported is greater than 100 crore for Account type other than “BC” (Current Account).

81.  What is Modification of gross amount credited to the account in cash (61A_98194)?

This issue is raised when Aggregate gross amount credited to the account in cash has been changed in Statement Type “CB” (Correction Statement).

82.  What is Exceptional aggregate amount debited in cash – Current account (61A_98200)?

This issue is raised when Amount reported is greater than 1000 crore for Account type “BC” (Current Account).

83.  What is Exceptional aggregate amount debited in cash – Other than current account (61A_98201)?

This issue is raised when Amount reported is greater than 100 crore for Account type other than “BC” (Current Account).

84.  What is Exceptional aggregate amount credited pre demonetization – Current account (61A_98210)?

This issue is raised when Amount reported is greater than 1000 crore for Account type “BC” (Current Account).

85.  What is Exceptional aggregate amount credited pre demonetization – Other than current account (61A_98211)?

This issue is raised when Amount reported is greater than 100 crore for Account type other than “BC” (Current Account).

86.  What is Exceptional aggregate amount credited post demonetization – Current account (61A_98220)?

This issue is raised when Amount reported is greater than 1000 crore for Account type “BC” (Current Account).

87.  What is Exceptional aggregate amount credited post demonetization – Other than current account (61A_98221)?

This issue is raised when Amount reported is greater than 100 crore (Account type is other than “BC” (Current Account).

88.  What is No First/Sole Account Holder (61A_98230)?

This issue is raised when No person reported as “F” – (First/Sole Account Holder) under account relationship (C.4.1).

89. What is Nil Transaction Amount (61A_98250)?

This issue is raised when Transaction Amount (D.2.4) is NIL.

90. What is Low Transaction Amount (61A_98251)?

This issue is raised when Maximum of Transaction Amount (D.2.4) & Stamp Value (D.2.12) is less than 30 lakh.

91. What is Exceptional Transaction Amount (61 A_98252)?

This issue is raised when Transaction Amount (D.2.4) is more than 1000 crore.

92. What is Inconsistent Aggregated Transaction Amount – Seller (61A_98253)?

This issue is raised when Transaction Amount (D.2.4) is not equal to the sum of Transaction Amount related to the person (D.3.2) for Transaction Relation “S” (Seller/Transferor).

93. What is Inconsistent Aggregated Transaction Amount – Buyer (61A_98254)?

This issue is raised when Transaction Amount (D.2.4) is not equal to the sum of Transaction Amount related to the person (D.3.2) for Transaction Relation “B” (Buyer/Transferee).

94. What is Modified Transaction Amount (61A_98255)?

This issue is raised when Transaction Amount (D.2.4) has been changed in Statement Type “CB” (correction statement).

95. What is Blank Property address (61A_98260)?

This issue is raised when Property address is not provided

96. What is Insufficient Property address (61A_98261)?

This issue is raised when Property address appears to be insufficient.

97. What is Failed Seller/Transferor Transaction relation (61A_98270)?

This issue is raised when No person reported with Transaction relation “S” (Seller/Transferor) under transaction relation (D.3.1).

98. What is No Buyer/Transferee (61A_98280)?

This issue is raised when No person reported with Transaction relation “B” – (Buyer/Transferee) under transaction relation (D.3.1).

99. What is Nil transaction amount related to seller (61A_98290)?

This issue is raised when Nil Transaction Amount related to the person (D.3.2) where transaction relation is “S” (Seller/Transferor).

100. What is Nil transaction amount related to Buyer (61A_98291)?

This issue is raised when Nil Transaction Amount related to the person (D.3.2) where transaction relation is “B” (Buyer/Transferee).

6. Statement of Reportable Accounts (SRA) (Form 61B)

6.1 SRA Reporting Obligation

1. What is FATCA?

In 2010, USA enacted a law known as “Foreign Account Tax Compliance Act” (FATCA) with the objective of tackling tax evasion through obtaining information in respect of offshore financial accounts maintained by USA Residents and citizens The provisions of FATCA essentially provide for 30% withholding tax on US source payments made to Foreign Financial Institutions unless they enter into an agreement with the Internal Revenue Service (US IRS) to provide information about the accounts held with them by US persons or entities (Companies/ Firms/ Trusts) controlled by US persons.

2. What is Inter Governmental Agreement (IGA) between India and US?

The IGA between India and USA was signed on 9th July, 2015. It provides that the Indian Financial Institutions will provide necessary information to the Indian tax authorities, which will then be transmitted to USA periodically. USA will also provide substantial information about Indians having assets in USA.

3. What are new Global Standards (Common Reporting Standards, CRS) on Automatic Exchange of Information?

To combat the problem of offshore tax evasion and avoidance and stashing of unaccounted money abroad, the G20 and OECD countries worked together to develop a Common Reporting Standard (CRS) on Automatic Exchange of Information (AEOI). The CRS on AEOI requires the financial institutions of the “source” jurisdiction to collect and report information to their tax authorities about account holders “resident” in other countries. The reporting needs to be done for a wide range of financial products, by a wide variety of financial institutions including banks, depository institutions, collective investment vehicles and insurance companies. Such information is to be transmitted automatically on yearly basis.

4. What is the legal framework for reporting Statement of Reportable Accounts (61B)?

With a view to implement the CRS on AEOI and also the IGA with USA, and with a view to provide information to other countries, necessary legislative changes have been made by amending section 285BA of the Income-tax Act, 1961. Income-tax Rules, 1962 were amended by inserting Rules 114F to 114H and Form 61B to provide a legal basis for the Reporting Financial Institutions (RFIs) for maintaining and reporting information about the Reportable Accounts.

5. Who is required to file Statement of Reportable Accounts (61B)?

An entity needs to find out whether it is a reporting financial institution. Thereafter, reporting financial institution needs to review financial accounts held with it by applying due diligence procedure to identify whether any financial account is a reportable account. If any account is identified as a reportable account, the reporting financial institution shall report the relevant information in Form 61B in respect of the identified reportable accounts. For further details, please refer to Third Party Reporting Handbook.

6. Who is a Reporting Financial Institution?

RFI is defined in rule 114F (7) to mean:

  • A financial institution which is resident in India, but excludes any branch of such institution that is located outside India, and
  • Any branch of financial Institution (other than a non-reporting financial institution) which is not resident in India, if that branch is located in India.

Financial Institutions will not include Non-reporting Financial Institutions even though they satisfy the above conditions.

7. What are the different Financial Institution Categories?

FI Categories: The definition of Financial Institution in rule 114(F) 3 classifies FIs in four different category:

  • Custodial Institutions – “Custodial Institution” means any Entity that holds, as a substantial portion of its business, Financial Assets for the account of others. Entities such as central securities depositors (CSDL & NSDL), custodian banks and depositary participants would generally be considered as custodial institutions.
  • Depository Institutions – A depository institution is a financial institution (such as a savings bank, commercial bank, savings and loan associations, or credit unions) that is legally allowed to accept monetary deposits from consumers in the ordinary course of a banking or similar business.
  • Investment Entities – Entity’s primary business consists of trading in money market instruments, foreign exchange, exchange, interest rate & index instruments, transferable securities or individual & collective portfolio management, investing, administering or managing financial asset or money for or on behalf of a customer’.
  • Specified Insurance Companies – “Specified Insurance Company” means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.
  • Others – A Financial Institution not falling under any of the category as mentioned above.

8. What are the Reporting Financial Accounts?

A financial account is an account maintained by a financial institution and includes specific categories of accounts as discussed in Rule 114F(1). There are broadly five types of financial accounts:

Depository Accounts: “Depository Account” includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business.

Custodial Accounts: The term custodial account means an arrangement for holding a financial instrument, contract, or investment (including, but not limited to, a share of stock in a corporation, a note, bond, debenture, or other evidence of indebtedness, a currency or commodity transaction, a credit default swap, a swap based upon a nonfinancial index, a notional principal contract as defined an insurance or annuity contract, and any option or other derivative instrument) for the benefit of another person.

Equity and Debt Interest: Equity and debt interests are financial accounts if they are interests in an investment entity e.g. a capital or profits interest in a firm and any interest held by any person treated as a settlor or beneficiary of all or a portion of the trust. Where an entity is an investment entity solely because it acts on behalf of a customer by investing, managing or administering Financial Assets in the name of the customer, the debt and equity interest in the investment entity are not Financial Assets provided it renders only investment advice to, or manages portfolios for, the customer.

Cash Value Insurance Contracts: Insurance contract means a contract under which issuer agrees to pay an amount upon the occurrence of a Specified contingency involving mortality, morbidity, accident, liability, or property risk. The term “Cash Value Insurance Contract” means an Insurance Contract (other than an indemnity reinsurance contract between two insurance companies) that has a Cash Value greater than US $50,000 at any time during the calendar year.

Annuity Contracts: Annuity contract means a contract under which the issuer agrees to make payments for a period of time determined in whole or in part by reference to the life expectancy of one or more individuals.

9. What is a Reportable Account?

A reportable accounts means an account which has been identified pursuant to the due diligence procedure, as held by:

  • A reportable person
  • An entity, not based in USA, with one or more controlling person that is a specified controlling person.
  • A passive non-financial entity with one or more controlling persons that is a person described in sub-clause (b) of clause (8) of the rule 114F.

10. Who is a reportable person?

Reportable person has been defined in the Rule 114F(8) and means:-

  • One or more specified US persons; or
  • One or more persons other than
    • A corporation the stock of which is regularly traded on one or more established securities markets;
    • Any corporation that is a related entity of a corporation described in item (i);
    • A Governmental entity;
    • An International organization;
    • A Central Bank; or
    • A financial institution

That is resident of any country or territory outside India (except United States of America) under the tax laws of such country or territory or an estate of a dependent that was a resident of any country or territory outside India (except US) under the tax laws of such country or territory.

Thus, generally speaking, there are two types of reportable persons. First one has been defined specifically for USA. Second one is for other countries.

11. Who is a US person?

US person means,

a)  An individual, being a citizen or resident of USA

b)  A partnership or corporation organized in the USA or under the laws of the USA or any state thereof;

c)  A trust if;

a. A court within the USA would have authority to render orders or judgments on issues regarding administration of the trust; or

b. One or more US persons have the authority to control all substantial decisions of the trust; or

d) An estate of a descendent who was a citizen or resident of the USA.

12. What is the due diligence procedure?

The RFIs need to identify the reportable accounts for reporting in form 61B by carrying out due diligence procedures. There are different due diligence procedures for the accounts held by individuals and accounts held by entities.

For more details please refer separate document “Guidance-Note-For-FATCA-and-CRS-31.12.2015.pdf, Page 28”.

13. Whether any aggregation rules are applicable while identifying reportable accounts?

For the purpose of determining the aggregate balance or value of financial accounts held by an individual or entity, a reporting financial institution shall be required to take into account all financial accounts which are maintained by it, or by a related entity, but only to the extent that the computerized systems of that reporting financial institution links the financial accounts by reference to a data element such as client number or taxpayer identification number and allows account balances or values to be aggregated.

For the purpose of determining the aggregate balance or value of financial accounts held by a person to determine whether a financial account is a high value account, a reporting FI shall also be required, in the case of any financial accounts that a relationship manager knows, or has reason to know, are directly or indirectly owned, controlled or established by the same person, to aggregate all such accounts.

14. How are joint accounts to be reported?

Where a Financial Account is jointly held, the balance or value to be reported in respect of the Reportable Person is the entire balance or value of the account. The entire balance or value should be attributed to each holder of the account.

15. Who is a related entity?

Related entity is defined in Explanation (E) to section 114F(6). An entity is a “related entity” of another entity if either entity controls the other entity, or the two entities are under common control.

16. How can an entity comply with reporting obligation?

After the RFI has identified the reportable accounts, RFI needs to report specific information in respect of each reportable account as prescribed in Form 61B.

17. Whether trusts are also required to fulfil reporting obligations?

In the case of trusts, two situations may arise:-

  • When trust itself is a reporting financial institution; or
  • When trust is an NFE that maintains a financial account with a reporting financial institution.

18. What are the consequences of not furnishing statement of financial Accounts?

Failure to furnish statement of financial transaction or reportable account will attract a penalty under section 271FA at the rate of one hundred rupees for every day during which such failure continues.

As per provisions of section 285BA(5), the prescribed Income-tax authorities may issue a notice to a person who is required to furnish such statement and has not furnished the same in the prescribed time, directing person to file the statement within a period not exceeding 30 days from the date of service of such notice and in such case, the person shall furnish the statement within the time specified in the notice.

If such person fails to file the statement within the specified time then a penalty of Rs. 500 for every day for which the failure continues, may be levied from the day immediately following the day on which the time specified in such notice for furnishing the statement expires.

19. What are the consequences of Failure to correct Inaccurate or defective statement of financial account filed?

As per section 271FAA of the Income-tax Act, if a person who is required to furnish statement of financial transaction or reportable account, provides inaccurate information in the statement, and where:

(d) the inaccuracy is due to a failure to comply with the due diligence requirement prescribed under section 285BA(7) or is deliberate on the part of that person;

(e)  the person knows of the inaccuracy at the time of furnishing the statement but does not inform the prescribed income-tax authority or such other authority or agency;

(f)  the person discovers the inaccuracy after the statement is furnished and fails to inform and furnish correct information within a period of 10 days as specified under section 285BA(6),

Then, the prescribed income-tax authority may direct that such person shall pay, by way of penalty, a sum of fifty thousand rupees.

6.2 SRA Reporting Format

1. What is prescribed format for Statement of Reportable Accounts (61B)??

All statements uploaded to the Reporting Portal should be in the XML format consistent with the prescribed schema published by the Income-tax Department. The Reporting entities may use the utilities provided by the Income-tax Department or third party utilities for preparation of XML file. For more details refer “Report Generation Utility User Guides” available in “Resources” section of Reporting Portal.

2. What is ITDREIN?

ITDREIN is an identification number allotted by the Income Tax Department to a Reporting Entity for reporting on reportable transaction of a specified type. A Reporting Entity may have more than one ITDREIN for each type of reporting obligation.

3. What is the format of ITDREIN?

The ITDREIN is a 16-character identification number in the format XXXXXXXXXX.YZNNN where XXXXXXXXXX – PAN or TAN of the Reporting Entity

Y → Code of Form Code

Z → Code of Reporting Entity Category for the Form Code

NNN →- Sequence number.

4. How many ITDREINs can a Reporting Entity obtain?

A Reporting Entity needs to have separate ITDREIN for each Form Type. Hence to furnish Form 61, 61A & 61B, Reporting Entity would need to obtain three separate ITDREINs.

5. How can ITDREIN be received?

ITDREIN is a system generated number. Once the registration application is processed and accepted by the Income-tax Department, the system will generate the ITDREIN and communicate the same to the Reporting Entity.

6. What is a Statement?

A Statement is the file which contains many reports containing details of reportable accounts (Form 61B). A statement may contain multiple reports.

7. What are different parts of Form 61B?

Form 61B has two parts. Part A which contains statement level details and Part B which contains Report Details. Part B report details should be provided for each Account being reported.

8. What are different Statement types?

One Statement can contain only one type of Statement. Permissible values for type of Statement are:

  • NB – New Statement containing new information
  • CB – Correction Statement containing corrections for previously submitted information
  • DB – Deletion Statement for deletion of previously submitted information
  • ND – No Data to report

9. What is the difference between Statement Number and Statement ID?

Statement Number is a free text field capturing the sender’s unique identifying number (created by the sender) that identifies the particular Statement being sent. The identifier allows both the sender and receiver to identify the specific Statement later if questions or corrections arise. After successful submission of the Statement to ITD, a new unique Statement ID will be allotted for future reference. The reporting person/entity should maintain the linkage between the Statement Number and Statement ID. In case the correction statement is filed, statement ID of the original Statement which is being corrected should be mentioned in the element ‘Original Statement ID’. In case the Statement is new and unrelated to any previous Statement, ‘0’ will be mentioned in the element ‘Original Statement ID’.

10.  What is original statement Id?

Statement ID of the original Statement which is being replaced deleted or referred by reports in the current Statement. In case the Statement is new and unrelated to any previous Statement, mention ‘0’ here.

11.  What is Report Serial Number?

The Report Serial Number uniquely represents a report within a Statement. The Report Serial Number should be unique within the Statement. This number along with Statement ID will uniquely identify any report received by ITD. In case of correction, the complete report has to be resubmitted. The Report Serial Number of the original report that has to be replaced or deleted should be mentioned in the element ‘Original Report Serial Number’. This number along with Original Statement ID will uniquely identify the report which is being corrected. In case there is no correction of any report, ‘0’ will be mentioned in the element ‘Original Report Serial Number’.

12. What is Original Report Serial Number?

The Report Serial Number of the original report that has to be replaced or deleted. This number along with Original Statement ID will uniquely identify the report which is being corrected. In case there is no correction of any report, mention ‘0’ here.

6.3  Preparation of SRA using Report Generation Utility

1. What is a Report Generation Utility?

Report Generation Utility is a desktop utility based on java. The utility enables user to generate and validate XML file which is to be submitted to Income-tax Department.

2. How to download and install the Report Generation Utility on a windows platform?

The Report Generation Utility can be downloaded from “Resources” section of the Reporting Portal. The downloaded zip file has to be extracted using WinZip or WinRAR tools.

3. Is any other software required to be installed to use Report Generation Utility?

Yes. Report Generation Utility requires JRE to run on Windows based operating system. Download and install JRE version 1.8 Update 101 or later.

4. How to run the Report Generation Utility?

Step 1: Unzip the downloaded utility

Step 2: Click on Form61B.jar file to run the utility.

5. How to prepare a statement using Report Generation Utility?

Step 1: Go to Reporting Portal at https://report.insight.gov.in

Step 2: Download Report Generation Utility from “Resources” section

Step 3: Capture Statement Details and other relevant details depending upon the form type

For more details refer “Report Generation Utility User Guides” in Resources section of Reporting Portal.

6. How to capture data in the Report Generation Utility?

Data can be captured either by data entry or by importing CSV.

7. How to load an existing XML file?

8. Select the saved XML file using the Open button from the tool bar.

9. What date format should be used while filling CSV?

User should use DD-MM-YYYY format while entering data in CSV. If date is entered in incorrect format, the CSV will not be imported successfully.

10. Can data be saved before generating the XML file in Report Generation Utility?

Yes. User can save the data using the “Save” button in the tool bar. The data is saved with a draft extension. To retrieve the saved data in the utility, use the “Open” button from the tool bar.

11. How to capture information for an account with more than one account holder?

For an account with more than one account holder, a user needs to enter multiple record rows, where account details (including “Report Serial Number”) will be repeated for each account holder. The utility will automatically create reports with unique Report Serial Number.

12. How to view information after importing CSV?

After successful CSV import, data is visible in the relevant tabs of the utility.

13. If corrections have to be made only to a statement, keeping reports unchanged, should the reports also be submitted along with the corrected statement?

No, if there are issues in Part A of the Statement, you do not need to submit the reports. In this case, the Number of Reports field will be set to 0.

14. Form 61B was uploaded with Statement type “ND” and a DQR issue was reported on it afterwards. But some reportable data pertaining to this statement was received later. What should be the status of the already issued DQR in this case?

The DQR issued on ND will be closed. However, a new DQR can be generated on the data received later.

15. If the Reporting Entity wants to delete/correct the statement or report details that were wrongly reported, what is the corrective procedure?

Separate facility to delete any report is not provided in the purview of Form 61B reporting. If Reporting Entities wants to correct any statement or report uploaded earlier, they must select “CB” as the Statement type and submit the modified/ updated statement/ report.

6.4 Validation of SRA using Report Generation Utility

1. What is the purpose of Statement Validation?

Validation is a process of applying the data input rules to ensure that the data is in the prescribed format. Errors in data entry will be highlighted during the process of validation.

2. How can a statement be validated?

Step 1: Click on “Validate” button on the tool bar

Step 2: Utility will display validation errors on “Validation” Tab

Step 3: Click on Validation row to see details of Validation errors on the right window pane of screen

Step 4: Click on any particular validation error from list, utility will show the field highlighted in red, where corrections can be made

Step 5: Fix the errors and then click on Validate button again

Step 6: If there are no validation errors, “Validation Successful” dialog box is displayed to the user. In addition, certain validations will be applied by the Income Tax Department at their end.

For more details refer “Report Generation Utility User Guides” in Resources section of Reporting Portal.

3. Is it mandatory to validate the statement?

Yes. Otherwise, statements with validation errors will be rejected in data quality check.

4. What are various types of validation errors?

The errors have been classified as mandatory errors, defects and exceptions.

5. What are mandatory errors?

Mandatory errors need to be resolved by user for successful generation of XML report. These are generally schema level errors. For resolving these type of errors, the data filled should be as per the Form 61B schema validation.

6. What are defects?

Defects can be Statement level defects or Report level Defects. Statement Defects are those which render the Statement (Part A) defective. Such Statements will be rejected and the Reporting Entity needs to resubmit the statement. Report defects are those which render a particular report(s) as defective in the statement. A statement may have multiple reports and only reports with defects would be rejected. The Reporting Entity needs to correct and submit the reports again in the corrected statement.

7. What are exceptions?

Exceptions do not result in the statement/report being rejected. The exceptions should be reviewed by the reporting person/entities and if any information is available, the Reporting Entity may provide the information. If any defect is noticed, the Reporting Entity needs to rectify the defect by submitting a correction statement.

8. How to identify validation errors?

When user clicks on the validate button, validation summary is displayed in the Validation Error tab. On selecting a particular row on the validation error screen, error details are displayed on the section on the right side. On selecting the error, user is directed towards the erroneous field on the screen.

9. How to rectify validation errors?

User can navigate to erroneous fields via Validation Error Details section on the right side of the screen. Erroneous fields are highlighted in Red and are editable for user to correct.

10. Is Global Intermediary Identification Number (GIIN) mandatory for filing of form 61B?

The GIIN is not mandatory at the time of registration of reporting entity, However, it is mandatorily required to be furnished in Part A of the report generation utility for form 61B.

6.5  Generation of SRA using Report Generation Utility

1. How to generate and save the statements?

Step 1: Click on Generate XML button on the toolbar.

Step 2: If there are no validation errors, user needs to provide the path to save generated XML.

2. What is the extension of generated XML file?

Generated XML file should have ‘.xml’ extension.

6.6  Upload of SRA through Submission Utility

1. How to download submission utility?

The submission utility can be downloaded from “Resources” section of the Reporting Portal. The downloaded zip file has to be extracted using WinZip or WinRAR tools.

2. Is any other software required to be installed to use Report Generation Utility?

Yes. Submission utility requires JRE to run on Windows based operating system. Download and install JRE version 1.8 Update 101 or later.

3. How to run submission utility?

Step 1: Unzip the downloaded utility

Step 2: Click on Submission_Utility.jar file to run the utility.

4. What is digital signature?

A digital signature is an electronic form of a signature that helps in authenticating the identity of the sender of a message or the signer of a document. It also ensures that the message being sent is not modified by an unauthorized party. Digital signatures are easily transportable and cannot be imitated by someone else.

5. How to view and save the digital signature certificate?

To view and save a digital signature certificate, perform the following steps:

Step 1: Open Internet Explorer

Step 2: Go to Settings >> Internet Options

Step 3: On the Internet Options pop-up, select the tab Content and then click the button Certificates

Step 4: A list of certificates is displayed on a new pop-up. Select the required certificate and click the Export button. Select the location where you want to save the certificate.

Step 5: The Certificate export wizard opens. Click Next to continue on the subsequent screens.

Step 6: On completing the wizard, Export Successful message is displayed.

Step 7: To sign a statement using the exported certificate, use the Submission Utility.

6. What are the steps to digitally sign the generated XML using submission utility?

Step 1. Go to “Secure XML” tab in submission utility

Step 2. Browse statement XML

Step 3. Click on “Generate Package” button (DSC should be connected to the system through USB while generating package)

Step 4. Select the certificate displayed in insight signer window

Step 5. Click on “Sign”

Step 6. Enter the password

Step 7. Save the package

7. What is the extension of digitally signed package?

Digitally signed package shall be saved as “.tar.gz” extension.

8. Can digital signature certificate be copied?

A Digital Signature Certificate cannot be used without having a private key. The private key should always be password-protected and not to be shared over a network.

9. If a reporting entity does not have a digital signature, does this mean it cannot file the statement?

It is mandatory to digitally sign the XML else at the time of upload system will throw an error.

10. Who is the signatory authority for signing the statement XML?

Statement XML has to be signed by designated director’s DSC.

11. Which class of DSC should be used while signing the XML?

DSC should be of Class II or III only, issued by CCA approved certifying agencies in India.

12. Is it mandatory to sign the statement XML with the same digital certificate which has been registered with ITD?

Yes, Registered digital certificate and the certificate with which statement XML is being signed should be same otherwise system will throw an error at the time of statement upload.

13. What are the steps to submit the statement through submission utility?

Step 1: Go to “Statement >> Statement Upload” tab in submission utility

Step 2: Enter user name and password

Step 3: Select the form type to be uploaded and enter “ITDREIN”

Step 4: “Reporting Period Ending On” & “Type of Filing”

Step 5: Enter original statement id (only in case correction statement is being filed)

Step 6: Attach the report and Click on “Validate”

Step 7: If no manifest error displayed, “Upload” button will be displayed.

Step 8: Click on “Upload”

14.  Can DQR be downloaded through submission utility?

Yes, DQR can be downloaded through submission utility

6.7 Upload of SRA on Reporting Portal

1. What are the steps to submit a Form 61B statement?

Step 1: Once statement XML is generated, sign and encrypt the XML using the Submission utility and prepare package to be uploaded (Refer submission utility user guide).

Step 2: Go to “Upload Statement” section under “Statement” tab

Step 3: Fill out the “Upload Statement” form (Depending upon Form 61, 61A, or 61B; the fields may differ)

Step 4: Select the “Filing Type” from drop down

Step 5: Enter original statement id (only in case correction statement is being filed)

Step 6: Attach the report and Click on “Validate”

Step 7: If no manifest error is shown, Click on displayed “Upload” button

Step 8: Upon successful submission, an email with “Acknowledgment Number” will be sent to the registered email id.

For more details, refer “Report Generation Utility User Guide-61B”, “Reporting Portal User Guide” in Resources section of Reporting Portal.

2. Who can submit the statement?

Only Designated Director of Reporting Entity can submit the statement.

3. What are the different manifest level errors which should be taken care of at the time of statement upload?

Following manifest level errors should be checked and rectified at the time of statement upload:

1. ITDREIN should be valid and must be in correct format

2. Selected form type should match with the actually prepared form (61,61A or 61B)

3. Reporting Period mentioned in statement XML should match with reporting period as selected in upload form

4. Filing type selected in upload form should match with filing type prepared statement

5. In case correction statement is being filed, reference of the “Original Statement Id” must be provided

6. In case statement type is “ND”, value of “Number of Reports” field should be 0.

7. In case statement type is “NB”, value of “Number of Reports” field should not be 0.

Please refer “Report Generation Utility User Guide” for more details about manifest, file and record level validations errors.

4. What are the different file level errors which should be taken care of at the time of statement upload?

Following file level errors should be checked and rectified at the time of statement upload:

1. XML file should be properly decrypted using digital certificate

2. XML file must be signed by valid digital signature which should be registered with ITD

3. XML file should be free of any threats

4. XML file should be free from any viruses

5. XML file should be as per the form 61B schema guide (refer Schema validation section)

Please refer “Report Generation Utility User Guide-61B” for more details about manifest, file and record level validations errors.

6.8 Data Quality Report (DQR)

1. What is Data Quality Report (DQR)?

The Data Quality Report contains details of the data quality errors present in the statement submitted by the Reporting Entity. DQR helps Reporting Entity(s) in identifying the errors in data submitted.

2. Why is Data Quality Report (DQR) required?

The report cannot be considered accurate if there are data quality errors. It is mandatory for Reporting Entities to file accurate reports in the prescribed formats as per law. Failure to comply with the provisions of law may attract penal provisions.

3. What should be Reporting Entity’s next course of action after receiving DQR?

Step 1: Download the DQR from Reporting Portal.

Step 2: Correct the statement for removal of Data quality errors using the offline utility as mentioned in DQR

Step 3: Validate and submit the correction statement.

Step 4: Upon successful submission, an email with “Acknowledgment Number” will be sent to the registered email id.

Step 5: Download the data quality report, if any.

Step 6: Repeat steps 1 to 5 till there are no more data quality errors.

4. What is RRC?

RRC stands for Report Requiring Correction. It is a field that will display the number of reports which are yet to be rectified in original statement. RRC field and count can be viewed under “Statements Pending for Correction” tab on reporting portal. Reporting entity need to ensure to reduce RRC (Report Requiring Correction) count to zero by rectifying all the defective reports.

5. What should be entered in the fields “Original Statement ID” and “Original Report Serial Number” when filing a Correction Statement?

If you are filing a Correction Statement (either because of a DQ issue raised or suo motu correction), the Original Statement ID and Original Report Serial Number corresponding to the original statement (filed as NB) should be mentioned in the respective fields.

6. What is Incorrect ITDREIN (40010)?

Issue Description – Incorrect ITDREIN (40010) is the issue raised when ITDREIN in the statement does not match with the ITDREIN mentioned on Portal while uploading the statement.

Action Required – Please submit the statement using the correct ITDREIN.

7. What is Incorrect Form Name (40020)?

Issue Description – Incorrect Form Name (40020) is the issue raised when Incorrect Form name entered while uploading the statement.

Action Required – Please submit the statement with Form Name as Form 61B.

8. What is Incorrect Original Statement ID for CB (40030)?

Issue Description- Incorrect Original Statement ID for CB (40030) is the issue raised The original statement ID mentioned in the Statement Type “CB” (Correction statement) does not match with the statement ID of Original Statement (Statement Type “NB”).

Action Required – Please submit the statement with correct original statement ID.

9. What is Incorrect Original Statement ID for DB (40031)?

Issue Description – This issue is raised when the original statement ID mentioned in the Deletion Statement (Statement Type “DB”) does not match with the statement ID of Original Statement (Statement Type “NB”).

10. What is Inconsistent Statement Type ND for submitted reports (40040)?

Issue Description – This issue is raised when Statement type is “ND” (No Data to Report) for a statement where number of reports is greater than 0.

11. What is Inconsistent Statement Type NB for nil reports (40041)?

This issue is raised when Statement Type is “NB” (New Statement) for a statement where number of reports is 0.

12. What is Inconsistent Statement Type (40042)?

This issue is raised when the Statement Type selected while uploading the statement does not match with the Statement Type mentioned in the statement.

13. What is Inconsistent Original Statement ID for new statement (40050)?

This issue is raised when Original statement ID is not 0 for Statement Type “NB” (New Statement).

14. What is Inconsistent Original Statement ID for No Data statement (40051)?

Issue Description – This issue is raised when Original statement ID is not 0 for Statement Type “ND” (No data to report).

15. What is Inconsistent Reason for correction for NB (40060)?

Issue Description – This issue is raised when Reason for correction is other than “N” (Not Applicable) for the Statement type “NB” (New Statement).

16. What is Inconsistent Reason for correction for ND (40061)?

Issue Description – This issue is raised when Reason for correction is other than “N” (Not applicable) for the Statement type “ND” (No Data to Report).

17. What is Inconsistent Reason for correction for CB (40062)?

Issue Description – This issue is raised when Reason for correction is “N” (Not applicable) for the Statement type “CB” (Correction Statement).

18. What is Inconsistent Reason for correction for DB (40063)?

Issue Description – This issue is raised when Reason for correction is other than “N” (Not applicable) for the Statement type “DB” (Deletion Statement).

19. What is Inconsistent Reporting Period for NB (40070)?

Issue Description – This issue is raised when the reporting period mentioned in statement does not relate to the Reporting Period selected on Portal while uploading the statement.

20. What is Inconsistent Reporting Period for CB (40071)?

Issue Description – This issue is raised when the reporting period in Statement Type “CB” (Correction Statement) does not match with the reporting period of the original statement (Statement Type “NB”).

21. What is Inconsistent Reporting Period for DB (40073)?

Issue Description – This issue is raised when the reporting period in Statement Type “DB” (Deletion Statement) does not match with the reporting period of the original statement (Statement Type “NB”).

22. What is Failed Decryption (50002)?

Validation Description – The file received from reporting portal is decrypted. Action required – Please encrypt the file with a valid key and resubmit the file

23. What is Failed Decompression (50003)?

Validation Description – Decompressing the received file to its original form Action required – Please compress and resubmit the file.

24. What is Failed Signature Check (50004)?

Validation Description – The digital signature on the received file is validated

Action required – Please re-sign the file with the Digital Signature of the Designated Director.

25. What is Failed Threat Scan (50005)?

Validation Description – The received file should be free of any threats.

Action required – Please scan the file for threats and viruses. Remove all detected threats and viruses prior to encryption.

26. What is Failed Virus scan ((50006)?

Validation Description – The received file should be free from any viruses.

Action required – Please scan the file for threats and viruses. Remove all detected threats and viruses prior to encryption

27. What is Failed Schema Validation (50007)?

Validation Description – The received file should be as per the form 61B schema guide (refer Schema validation section).

Action required – Please re-validate the file against the XML Schema, resolve any validation errors.

28. What is Signature not Uploaded (50021)?

Validation Description – The user has not uploaded the digital signature certificate file on the Reporting portal.

Action required – Please upload the digital signature certificate file on the Reporting portal.

29. What is Signature Expired (50022)?

Validation Description – The digital signature certificate has been expired

Action required – Please upload the updated digital signature certificate on the Reporting portal as the existing certificate is expired

30. What is Failed Original Report Serial Number in CB (61B_98000)?

This issue is raised when Original Report Serial Number for Statement Type “CB” (Correction Statement) does not match with the report serial number as mentioned in the Original Statement (Statement Type “NB”) submitted earlier.

31. What is Failed Original Report Serial Number in DB (61B_98002)?

This issue is raised when Original Report Serial Number for Statement Type “DB” (Deletion Statement) does not match with the report serial number as mentioned in the Original Statement (Statement Type “NB”) submitted earlier

32. What is Failed Original Report Serial Number in CB after Deletion (61B_98003)?

Original Report Serial Number mentioned in Statement Type “CB” (Correction Statement) corresponds to the report already deleted

33. What is Truncated Account Number (61B_98160)?

Account Number is less than 4 digits.

34. What is Invalid Account Number (61B_98161)?

Account Number contains invalid character (‘E+’).

35. What is Modification in Account Number (61B_98162)?

Account number has been changed in Statement Type “CB” (correction statement).

36. What is Failed Account structure (61B_60001)?

The Account number mentioned does not follow ISIN Structure. Account number should be in ISIN format when Account Number Type is selected as “03” (International Securities Information Number).

ISIN Format: 12-character alpha-numerical code:

  • 2 alphabetic characters, which are the ISO 3166-1 alpha-2 code for the issuing country,
  • 9 alpha-numeric characters (the National Securities Identifying Number, or NSIN, which identifies the security, padded as necessary with leading zeros), and 1 numerical check digit.

37. What is Impermissible Account Number type (61B_98300)?

Impermissible Account number type “01” (International Bank Account Number) selected by Reporting Entity.

Indian Banks to use “02” (Other Bank Account number) as an option as IBAN is not applicable in case of India.

38. What is Failed Date of closure (61B_98310)?

This issue is raised when Account closure date is not provided when Account Status is “C” (Closed).

39. What is Invalid Postal code – India (61B_98092)?

This issue is raised when Invalid postal code provided when country selected is India.

40. What is Insufficient Address (61B_98094)?

This issue is raised when Address appears to be Insufficient /incomplete.

41. What is Invalid Country Code (61B_98095)?

This issue is raised when Country selected in “Branch Details” is other than India.

42. What is Failed Mobile No India (61B_98100)?

This issue is raised when Incorrect mobile number format provided when country selected is India. It should be 10 digit mobile Number and should start from 5, 6, 7, 8 or 9.

43. What is Failed Mobile No – Outside India (61B_98101)?

This issue is raised when Incorrect mobile number format provided when country selected is outside India.

44. What is Failed Branch Contact details (61B_98104)?

This issue is raised when Branch contact details not provided.

45. What is Failed Account balance (61B_60002)?

This issue is raised when “Account balance or value at the end of reporting period” is less than zero.

46. What is Incorrect Account balance (61B_60003)?

This issue is raised when Account balance is other than zero with Account Status is “C” (Closed). Account balance should be zero as

Account is reported as closed.

47. What is Exceptional Account balance (61B_98330)?

This issue is raised when Amount reported is greater than 100 crores.

48. What is Modification in Account balance (61B_98331)?

This issue is raised when “Account balance or value at the end of reporting period” has been changed in Statement type “CB” (Correction Statement).

49. What is Mismatch in Account Balance (61B_98332)?

This issue is raised when Account balance is not equal to the difference of (Aggregate gross amount credited (B.3.6) and Aggregate gross amount debited (B.3.7)).

50. What is Failed Aggregate gross Interest paid or Credited (61B_98340)?

This issue is raised when “Aggregate gross Interest paid or credited” not reported for Account Category “DA” (Depository Account) or “CA” (Custodial Account).

51. What is Exceptional gross Interest paid or credited (61B_98341)?

This issue is raised when Amount reported is greater than 100 crores.

52. What is Modification in gross Interest paid or credited (61B_98342)?

This issue is raised when “Aggregate gross Interest paid or credited” has been changed in Statement Type “CB” (Correction Statement).

53. What is Failed Aggregate gross dividend paid or credited (61B_98350)?

This issue is raised when “Aggregate gross dividend paid or credited” not reported for Account category “CA” (Custodial Account).

54.  What is Exceptional gross dividend paid or credited (61B_98351)?

This issue is raised when Amount reported is greater than 100 crores.

55. What is Modification in gross dividend paid or credited (61B_98352)?

This issue is raised when “Aggregate gross dividend paid or credited” has been changed in Statement Type “CB” (Correction Statement).

56. What is Failed Gross proceeds from the sale of property (61B_98360)?

This issue is raised when “Gross proceeds from the sale of property” is not reported for Account category “CA” (Custodial Account).

57. What is Exceptional Gross proceeds from the sale of property (61B_98361)?

This issue is raised when Amount reported is greater than 100 crores

58. What is Modification in Gross proceeds from the sale of property (61B_98362)?

This issue is raised when “Gross proceeds from the sale of property” has been changed in Statement Type “CB” (Correction Statement).

59.  What is Failed Aggregate gross amount of all other income paid or credited to the account (61B_98370)?

This issue is raised when “Aggregate gross amount of all other income paid or credited to the account” not reported for Account category “CA” (Custodial Account).

60. What is Exceptional gross amount of all other income paid or credited (61B_98371)?

This issue is raised when Amount reported is greater than 100 crores.

61. What is Modification in gross amount of all other income paid or credited (61B_98372)?

This issue is raised when “Aggregate gross amount of all other income paid or credited to the account” has been changed in Statement Type “CB” (Correction Statement).

62. What is Exceptional gross amount credited (61B_98380)?

This issue is raised when Amount reported is greater than 100 crores

63. What is Modification in gross amount credited (61B_98381)?

This issue is raised when “Aggregate gross amount credited” has been changed in Statement Type “CB” (Correction Statement).

64. What is Mismatch in gross amount credited (61B_98382)?

This issue is raised when Aggregate gross amount credited is less than sum of (gross interest paid, (B.3.2) gross dividend paid (B.3.3), gross proceeds from sale of property (B.3.4) and gross amount of all other income (B.3.5)).

65. What is Exceptional gross amount debited (61B_98390)?

This issue is raised when Amount reported is greater than 100 crores.

66. What is Modification in gross amount debited (61B_98391)?

This issue is raised when “Aggregate gross amount debited” has been changed in Statement Type “CB” (Correction Statement).

67. What is Blank First Name Individual (61B_70002)?

This issue is raised when First Name not provided for Individual Account Holder. Reporting entity can mention “NFN” if it does not have a complete First Name.

68. What is Blank Last Name Individual (61B_70003)?

This issue is raised when Last Name not provided for Individual Account Holder.Reporting entity can mention the full name if it does not have a Last Name

69. What is Incorrect Name Type (61B_60004)?

This issue is raised when Name Type should not be “N1” (SMFAliasOrOther) when Report Type is “02” (Report of other reportable accounts under Rule 114G).

70. What is Blank Father’s Name for individual without PAN (61B_98020)?

This issue is raised when Father’s Name is blank and PAN is not provided. Father’s Name is mandatory if PAN is not provided.

71. What is No PAN (61B_98034) ?

This issue is raised when PAN not provided.

72. What is Invalid PAN (61B_98031)?

This issue is raised when Invalid PAN (not in valid format/ does not match with the PAN database) PAN should be of format:

CCCCCNNNNC; where C denotes the alphabets and N is numeric.

73. What is Modified PAN (61B_98032)?

This issue is raised when Valid PAN/PAN(s) has been changed (added/deleted) in Statement Type “CB” (Correction Statement). The modification in PAN may be verified and if it was not intended, correction statement may be filed again.

74. What is Invalid Aadhaar Number (61B_98040)?

This issue is raised when Invalid Aadhaar Number format (12 digits).

75. What is Wrong Aadhaar Number (61B_98041)?

This issue is raised when Wrong Aadhaar Number.

76. What is Failed Identification Number for no PAN case (61B_70011)?

This issue is raised when Identification number not provided

77. What is Failed DOB/DOI for no PAN case (61B_98070)?

This issue is raised when Date of birth/ incorporation is blank and PAN is not provided.

78. What is Failed Date of Birth Range (61B_60014)?

This issue is raised when Date of birth is not in valid year range Valid date of birth range = from 01.01.1900 to end of reporting period.

79. What is Failed Country of Residence (61B_98400)?

This issue is raised when Incorrect country code provided. Country code should not be “XX”.

80. What is Blank Place of Birth/ Incorporation (61B_98401)?

This issue is raised when Place of Birth/ Incorporation not provided.

81. What is Blank Country of birth/ Incorporation (61B_98402)?

This issue is raised when Country of Birth not provided. This information is mandatory for foreign national (other than India) or non-resident.

82. What is Blank Foreign TIN – Individual (61B_70001)?

This issue is raised when Tax Identification Number (TIN) allotted by tax resident country (other than India) not provided.

This information is mandatory for foreign national (other than India) or non-resident.

83. What is Blank TIN country (61B_98410)?

This issue is raised when Details of TIN Issuing country (other than India) not provided. This information is mandatory for foreign national (other than India) or non-resident.

84. What is Failed Contact details (61B_98103)?

This issue is raised when Contact details not provided.

85.  What is Incorrect Controlling person details (61B_60005)?

This issue is raised when Controlling person details provided when “Account Holder Type for Other Reportable Person” is “C2” (other reportable person) or “C3” (Passive Non-Financial Entity that is a CRS Reportable) with Report Type “02” (Report of other reportable accounts under Rule 114G).

Controlling person details should be provided only when “Account Holder Type for Other Reportable Person” is “C1” (Passive Non-Financial Entity with one or more controlling person that is Reportable Person) with Report Type “02” (Report of other reportable accounts under Rule 114G).

86. What is Missing Controlling Person details (61B_60006)?

This issue is raised when Controlling person details not provided when “Account Holder Type for Other Reportable Person” is “C1” (Passive Non-Financial Entity with one or more controlling person that is Reportable Person) with Report Type “02” (Report of other reportable accounts under Rule 114G).

87. What is Inconsistent Account Holder type for US reportable Person – Report Type 01 (61B_98420)?

This issue is raised when Account Holder Type for US Reportable Person is “XX” when the Report Type is “01”.

88. What is Inconsistent Account Holder type for US reportable Person – Report Type 02 (61B_98421)?

This issue is raised when Account Holder Type for US Reportable Person is not “XX” when the Report Type is “02”.

89. What is Inconsistent Account Holder type for Other reportable Person – Report Type 01 (61B_98422)?

This issue is raised when Account Holder Type for other Reportable Person is not “XX” when the report type is “01”.

90. What is Inconsistent Account Holder type for Other reportable Person – Report Type 02 (61B_98423)?

This issue is raised when Account Holder Type for other Reportable Person is “XX” when the report type is “02”.

91. What is Blank Nature of business (61B_98430)?

This issue is raised when Nature of Business not provided.

92. What is Blank First Name Controlling Person (61B_70007)?

This issue is raised when First Name not provided for Controlling Person.Reporting entity can mention “NFN” if it does not have a complete First Name.

93. What is Blank Last Name Controlling Person (61B_70008)?

This issue is raised when Last Name not provided for Controlling Person.Reporting entity can mention the full name if it does not have a Last Name.

94. What is Blank Foreign TIN – Controlling Person (61B_70006)?

This issue is raised when Tax Identification Number (TIN) allotted by tax resident country (other than India) not provided. This information is mandatory for foreign national (refer Nationality field) or non­resident.

7. Statement containing particulars of declaration received in Form 60 (Form 61)

7.1 Reporting Obligation

1. What is Form 61?

Rule 114B specifies certain transactions for which quoting of PAN is mandatory. In case a person (other than a company or a firm) does not have a PAN and who enters any such transaction is required to file a declaration in Form 60. Every entity who receives such Form 60 is required to file a statement in Form 61 containing particulars of declarations received in such Form 60.

2. Who is required to submit Form 61?

Every person who has received any declaration in Form 60, on or after the 1st day of January, 2016, in relation to a transaction specified in rule 114B has to submit Form 61.

3. What are these transactions?

Rule 114B specifies the following transactions-

  • Sale or purchase of a motor vehicle or vehicle other than two wheeled vehicles.
  • Opening an account [other than a time-deposit referred to at Sl. No.12 and a Basic Savings Bank Deposit Account]
  • For issue of a credit or debit card.
  • Opening of a demat account with a depository, participant, custodian of securities or any other person
  • Payment to a hotel or restaurant against a bill or bills at any one time in cash of amount exceeding Rs. 50,000/-.
  • Payment in connection with travel to any foreign country or payment for purchase of any foreign currency at any one time in cash of amount exceeding Rs. 50,000/-.
  • Payment to a Mutual Fund for purchase of its units of amount exceeding Rs. 50,000/-
  • Payment to a company or an institution for acquiring debentures or bonds issued by it of amount exceeding Rs. 50,000/-.
  • Payment to the Reserve Bank of India of amount exceeding Rs. 50,000/-.
  • Cash Deposits exceeding fifty thousand rupees during any one day or aggregating to more than two lakh fifty thousand rupees during the period 09th November, 2016 to 30th December, 2016 with any bank or post office.
  • Purchase of bank drafts or pay orders or banker’s cheques in cash for an amount exceeding fifty thousand rupees during any one day.
  • A time deposit with a bank, post office, Nidhi or NBFC Amount exceeding fifty thousand rupees or aggregating to more than five lakh rupees during a financial year.
  • Payment for one or more pre-paid payment instruments in cash or by way of a bank draft or pay order or banker’s cheque of an amount aggregating to more than fifty thousand rupees in a financial year.
  • Payment as life insurance premium of amount aggregating to more than fifty thousand rupees in a financial year.
  • A contract for sale or purchase of securities (other than shares) of amount exceeding one lakh rupees per transaction.
  • Sale or purchase, by any person, of shares of a company not listed in a recognised stock exchange of amount exceeding one lakh rupees per transaction.
  • Sale or purchase of any immovable property of amount exceeding ten lakh rupees or valued by stamp valuation authority referred to in section 50C of the Act at an amount exceeding ten lakh rupees.
  • Sale or purchase, by any person, of goods or services of any nature other than those specified above, if any of amount exceeding two lakh rupees per transaction.

4.  What is the due date of furnishing the Form 61?

Form 61 shall be filed twice a year –

H1 – where the declarations in Form 60 are received from 01st of April to 30th September, be furnished by 31st of October immediately following, and

H2 – where such declarations are received from 01st of October to 31st March, be furnished by 30th of April immediately following.

5. How can an entity submit Form 61?

The form can be submitted online by logging to the portal https://report.insight.gov.in. For detailed steps refer section upload of form 61 on reporting portal.

6. What are the consequences of not furnishing Form 61?

Statement of Financial Transactions is required to be filed in Form 61A for the financial year by 31st of May immediately following. If any transactions are there for which PAN has not been taken by an entity, acknowledge no. of filing of Form 61 is required to be mentioned in Form 61A. Therefore, an entity is required to file Form 61 before it can file Form 61A.

7.2 Reporting Format

1. What are the different parts of Form 61?

Form 61 has two parts. Part A contains particulars of the reporting person and whether the statement is original or revised.

Part B contains details of the transacting person and details of financial transactions undertaken.

2. What are different statement types?

One Statement can contain only one type of Statement. Permissible values for type of Statement are:

  • NB – New Statement containing new information
  • CB – Correction Statement containing corrections for previously submitted information
  • DB – Deletion Statement for deletion of previously submitted information
  • ND – No Data to report

3.  What is the difference between Statement Number and Statement ID?

Statement Number is a free text field capturing the sender’s unique identifying number (created by the sender) that identifies the particular Statement being sent. The identifier allows both the sender and receiver to identify the specific Statement later if questions or corrections arise. After successful submission of the Statement to ITD, a new unique Statement ID will be allotted for future reference.

The reporting person/entity should maintain the linkage between the Statement Number and Statement ID. In case the correction statement is filed, statement ID of the original Statement which is being corrected should be mentioned in the element ‘Original Statement ID’. In case the Statement is new and unrelated to any previous Statement, ‘0’ will be mentioned in the element ‘Original Statement ID’.

4. What is original statement ID?

Statement ID of the original Statement which is being replaced deleted or referred by reports in the current Statement. In case the Statement is new and unrelated to any previous Statement, mention ‘0’ here.

5. What is Report Serial Number?

The Report Serial Number uniquely represents a report within a Statement. The Report Serial Number should be unique within the Statement. This number along with Statement ID will uniquely identify any report received by ITD. In case of correction, the complete report has to be resubmitted. The Report Serial Number of the original report that has to be replaced or deleted should be mentioned in the element ‘Original Report Serial Number’. This number along with Original Statement ID will uniquely identify the report which is being corrected. In case there is no correction of any report, ‘0’ will be mentioned in the element ‘Original Report Serial Number’.

6. What is Original Report Serial Number?

The Report Serial Number of the original report that has to be replaced or deleted. This number along with Original Statement ID will uniquely identify the report which is being corrected. In case there is no correction of any report, mention ‘0’ here.

7.3  Preparation of Form 61 using Report Generation Utility

1. What is a Report Generation Utility?

Report Generation Utility is a desktop utility based on java. The utility enables user to generate and validate XML file which is to be submitted to Income-tax Department.

2. How to download and install the Report Generation Utility on a windows platform?

The Report Generation Utility can be downloaded from “Resources” section of the Reporting Portal. The downloaded zip file has to be extracted using WinZip or WinRAR tools.

3. Is any other software required to be installed to use Report Generation Utility?

Yes. Report Generation Utility requires JRE to run on Windows based operating system. Download and install JRE version 1.8 Update 101 or later.

4. How to run the Report Generation Utility?

Step 1: Unzip the downloaded utility

Step 2: Click on Form61.jar file to run the utility.

5. How to prepare a statement using Report Generation Utility?

Step 1: Go to Reporting Portal at https://report.insight.gov.in

Step 2: Download Report Generation Utility from “Resources” section

Step 3: Select the Transaction Type (for Form 61) on Instructions window.

Step 4: Capture Statement Details and other relevant details depending upon the form type

For more details refer “Report Generation Utility User Guides” in Resources section of Reporting Portal.

6. How to capture data in the Report Generation Utility?

Data can be captured either by data entry or by importing CSV.

7. How to load an existing XML file?

Select the saved XML file using the Open button from the tool bar.

8. What date format should be used while filling CSV?

User should use DD-MM-YYYY format while entering data in CSV. If date is entered in incorrect format, the CSV will not be imported successfully.

9. Can data be saved before generating the XML file in Report Generation Utility?

Yes. User can save the data using the “Save” button in the tool bar. The data is saved with a draft extension. To retrieve the saved data in the utility, use the “Open” button from the tool bar.

10. How to capture information for an account with more than one account holder?

For an account with more than one account holder, a user needs to enter multiple record rows, where account details (including “Report Serial Number”) will be repeated for each account holder. The utility will automatically create reports with unique Report Serial Number.

11.  How to view information after importing CSV?

After successful CSV import, data is visible in the relevant tabs of the utility.

12.  If corrections have to be made only to a statement, keeping reports unchanged, should the reports also be submitted along with the corrected statement?

No, if there are issues in Part A of the Statement, you do not need to submit the reports. In this case, the Number of Reports field will be set to 0.

13.  In case form 61 was uploaded with Statement type “ND” and a DQR issue was reported on it afterwards. But some reportable data pertaining to this statement was received later. What should be the status of the already issued DQR in this case?

The DQR issued on ND will be closed. However, a new DQR can be generated on the data received later.

14. If the Reporting Entity wants to delete/correct the statement or report details that were wrongly reported, what is the corrective procedure?

Separate facility to delete any report is not provided in the purview of Form 61 reporting. If Reporting Entities wants to correct any statement or report uploaded earlier, they must select “CB” as the Statement type and submit the modified/ updated statement/ report.

7.4  Validation of Form 61 using Report Generation Utility

1. What is the purpose of Statement Validation?

Validation is a process of applying the data input rules to ensure that the data is in the prescribed format. Errors in data entry will be highlighted during the process of validation.

2. How can a statement be validated?

Step 1: Click on “Validate” button on the tool bar

Step 2: Utility will display validation errors on “Validation” Tab

Step 3: Click on Validation row to see details of Validation errors on the right window pane of screen

Step 4: Click on any particular validation error from list, utility will show the field highlighted in red, where corrections can be made

Step 5: Fix the errors and then click on Validate button again

Step 6: If there are no validation errors, “Validation Successful” dialog box is displayed to the user. In addition, certain validations will be applied by the Income Tax Department at their end.

For more details refer “Report Generation Utility User Guides” in Resources section of Reporting Portal.

3. Is it mandatory to validate the statement?

Yes. Otherwise, statements with validation errors will be rejected in data quality check.

4. What are various types of validation errors?

The errors have been classified as mandatory errors, defects and exceptions.

5. What are mandatory errors?

Mandatory errors need to be resolved by user for successful generation of XML report. These are generally schema level errors. For resolving these type of errors, the data filled should be as per the Form 61A schema validation.

6. What are defects?

Defects can be Statement level defects or Report level Defects. Statement Defects are those which render the Statement (Part A) defective. Such Statements will be rejected and the Reporting Entity needs to resubmit the statement. Report defects are those which render a particular report(s) (Part B) as defective in the statement. A statement may have multiple reports and only reports with defects would be rejected. The Reporting Entity needs to correct and submit the reports again in the corrected statement.

7. What are exceptions?

Exceptions do not result in the statement/report being rejected. The exceptions should be reviewed by the reporting person/entities and if any information is available, the Reporting Entity may provide the information. If any defect is noticed, the Reporting Entity needs to rectify the defect by submitting a correction statement.

8. How to identify validation errors?

When user clicks on the validate button, validation summary is displayed in the Validation Error tab. On selecting a particular row on the validation error screen, error details are displayed on the section on the right side. On selecting the error, user is directed towards the erroneous field on the screen.

9. How to rectify validation errors?

User can navigate to erroneous fields via Validation Error Details section on the right side of the screen. Erroneous fields are highlighted in Red and are editable for user to correct.

7.5  Generation of Form 61 using Report Generation Utility

1. How to generate and save the statements?

Step 1: Click on Generate XML button on the toolbar.

Step 2: If there are no validation errors, user needs to provide the path to save generated XML.

2. What is the extension of generated XML file?

Generated XML file should have ‘.xml’ extension.

7.6  Upload of Form 61 through Submission Utility

1. How to download submission utility?

The submission utility can be downloaded from “Resources” section of the Reporting Portal. The downloaded zip file has to be extracted using WinZip or WinRAR tools.

2. Is any other software required to be installed to use Report Generation Utility?

Yes. Submission utility requires JRE to run on Windows based operating system. Download and install JRE version 1.8 Update 101 or later.

3. How to run submission utility?

Step 1: Unzip the downloaded utility

Step 2: Click on Submission_Utility.jar file to run the utility.

4. What is digital signature?

A digital signature is an electronic form of a signature that helps in authenticating the identity of the sender of a message or the signer of a document. It also ensures that the message being sent is not modified by an unauthorized party. Digital signatures are easily transportable and cannot be imitated by someone else.

5. How to view and save the digital signature certificate?

To view and save a digital signature certificate, perform the following steps:

Step 1: Open Internet Explorer

Step 2: Go to Settings >> Internet Options

Step 3: On the Internet Options pop-up, select the tab Content and then click the button Certificates

Step 4: A list of certificates is displayed on a new pop-up. Select the required certificate and click the Export button. Select the location where you want to save the certificate.

Step 5: The Certificate export wizard opens. Click Next to continue on the subsequent screens.

Step 6: On completing the wizard, Export Successful message is displayed.

Step 7: To sign a statement using the exported certificate, use the Submission Utility.

6. What are the steps to digitally sign the generated XML using submission utility?

Step 1. Go to “Secure XML” tab in submission utility

Step 2. Browse statement XML

Step 3. Click on “Generate Package” button (DSC should be connected to the system through USB while generating package)

Step 4. Select the certificate displayed in insight signer window

Step 5. Click on “Sign”

Step 6. Enter the password

Step 7. Save the package

7. What is the extension of digitally signed package?

Digitally signed package shall be saved as “.tar.gz” extension.

8. Can digital signature certificate be copied?

A Digital Signature Certificate cannot be used without having a private key. The private key should always be password-protected and not to be shared over a network.

9. If a reporting entity does not have a digital signature, does this mean it cannot file the statement?

It is mandatory to digitally sign the XML else at the time of upload system will throw an error.

10.  Which class of DSC should be used while signing the XML?

DSC should be of Class II or III only, issued by CCA approved certifying agencies in India.

11. Is it mandatory to sign the statement XML with the same digital certificate which has been registered with ITD?

Yes, Registered digital certificate and the certificate with which statement XML is being signed should be same otherwise system will throw an error at the time of statement upload.

12.  What are the steps to submit the statement through submission utility?

Step 1: Go to “Statement >> Statement Upload” tab in submission utility

Step 2: Enter user name and password

Step 3: Select the form type to be uploaded and enter “ITDREIN”

Step 4: “Reporting Period Ending On” & “Type of Filing”

Step 5: Enter original statement id (only in case correction statement is being filed)

Step 6: Attach the report and Click on “Validate”

Step 7: If no manifest error displayed, “Upload” button will be displayed.

Step 8: Click on “Upload”

13.  Can DQR be downloaded through submission utility?

Yes, DQR can be downloaded through submission utility

7.7  Upload of Form 61 on Reporting Portal

1. What are the steps to submit a Form 61 statement?

Step 1: Once statement XML is generated, sign and encrypt the XML using the Submission utility and prepare package to be uploaded (Refer submission utility user guide).

Step 2: Go to “Upload Statement” section under “Statement” tab

Step 3: Fill out the “Upload Statement” form (Depending upon Form 61, 61A, or 61B; the fields may differ)

Step 4: Select the “Filing Type” from drop down

Step 5: Enter original statement id (only in case correction statement is being filed)

Step 6: Attach the report and Click on “Validate”

Step 7: If no manifest error is shown, Click on displayed “Upload” button

Step 8: Upon successful submission, an email with “Acknowledgment Number” will be sent to the registered email id.

For more details, refer “Report Generation User Guide-61”, “Reporting Portal User Guide” in Resources section of Reporting Portal.

2. Who can submit the Form 61 statement?

In case of Form 61, only the principal officer of reporting entity can submit the statement.

3. What are the different manifest level errors which should be taken care of at the time of statement upload?

Following manifest level errors should be checked and rectified at the time of statement upload:

1.  ITDREIN should be valid and must be in correct format

2. Selected form type should match with the actually prepared form (61,61A or 61B)

3. Reporting Period mentioned in statement XML should match with reporting period as selected in upload form

4. Filing type selected in upload form should match with filing type prepared statement

5. In case correction statement is being filed, reference of the “Original Statement Id” must be provided

6. In case statement type is “ND”, value of “Number of Reports” field should be 0.

7. In case statement type is “NB”, value of “Number of Reports” field should not be 0.

Please refer “Report Generation Utility User Guide” for more details about manifest, file and record level validations errors.

4. What are the different file level errors which should be taken care of at the time of statement upload?

Following file level errors should be checked and rectified at the time of statement upload:

1. XML file should be properly decrypted using digital certificate

2. XML file must be signed by valid digital signature which should be registered with ITD

3. XML file should be free of any threats

4. XML file should be free from any viruses

5. XML file should be as per the form 61 schema guide (refer Schema validation section)

Please refer “Report Generation Utility User Guide” for more details about manifest, file and record level validations errors.

7.8 Data Quality Report (DQR)

1. What is Data Quality Report (DQR)?

The Data Quality Report contains details of the data quality errors present in the statement submitted by the Reporting Entity. DQR helps Reporting Entity(s) in identifying and rectifying the errors in data submitted.

2.  Why is Data Quality Report (DQR) required?

The report cannot be considered accurate if there are data quality errors. It is mandatory for Reporting Entities to file accurate reports in the prescribed formats as per law. Failure to comply with the provisions of law may attract penal provisions.

3. What should be Reporting Entity’s next course of action after receiving DQR?

Step 1: Download the DQR from Reporting Portal.

Step 2: Correct the statement for removal of Data quality errors using the offline utility as mentioned in DQR

Step 3: Validate and submit the correction statement.

Step 4: Upon successful submission, an email with “Acknowledgment Number” will be sent to the registered email id.

Step 5: Download the data quality report, if any.

Step 6: Repeat steps 1 to 5 till there are no more data quality errors.

4. What is RRC?

RRC stands for Report Requiring Correction. It is a field that will display the number of reports which are yet to be rectified in original statement. RRC field and count can be viewed under “Statements Pending for Correction” tab on reporting portal. Reporting entity need to ensure to reduce RRC (Report Requiring Correction) count to zero by rectifying all the defective reports.

5. What is Incorrect ITDREIN (40010)?

Issue Description – Incorrect ITDREIN (40010) is the issue raised when ITDREIN in the statement does not match with the ITDREIN mentioned while uploading the statement/ is not a valid ITDREIN.

Action required – Please submit the statement using the correct ITDREIN.

6. What is Incorrect Form Name (40020)?

Issue Description – Incorrect Form Name (40020) is the issue raised when Incorrect Form name is entered while uploading the statement.

Action Required – Please submit the statement with Form Name as Form 61.

7. What is Incorrect Original Statement ID for CB (40030)?

Issue Description – Incorrect Original Statement ID for CB (40030) is the issue raised when the original statement ID mentioned in the Statement Type “CB” (Correction Statement) does not match with the statement ID of original statement “NB” (New Statement).

Action Required – Please submit the statement with correct original statement ID.

8.  What is Incorrect Original Statement ID for DB (40031)?

Issue Description – Incorrect Original Statement ID for DB (40031) is the issue raised when the original statement ID mentioned in the Deletion statement (Statement Type “DB”) does not match with the statement ID of Original Statement (Statement Type “NB”).

9. What is Inconsistent Statement Type ND for submitted reports (40040)?

Issue Description – Inconsistent Statement Type ND for submitted reports (40040) is the issue raised when Statement type is “ND” (No Data to Report) for a statement where number of reports is greater than 0.

Action Required – The inconsistency in the statement type has been ignored and statement is considered as “NB” (New Statement).In case Statement Type is not “NB” (New Statement), kindly use the deletion functionality (Statement Type as “DB”) to delete the statement and file a new original statement.

10. What is Inconsistent Statement Type NB for nil reports (40041)?

Issue Description – Inconsistent Statement Type NB for nil reports (40041) is the issue raised when Statement type is “NB” (New Statement) for a statement where number of reports is 0.

Action Required – The inconsistency in the statement type has been ignored and statement is considered as “ND” (No Data to Report). In case Statement Type is not “ND” (No Data to Report), kindly file a new original statement (Statement Type as “NB”) with reports.

11. What is Inconsistent Statement Type (40042)?

Issue Description – Inconsistent Statement Type (40042) is the issue raised when the Statement Type selected while uploading the statement does not match with the Statement Type mentioned in the statement.

12. What is Inconsistent Original Statement ID for new statement (40050)?

Issue Description – Inconsistent Original Statement ID for new statement (40050) is the issue raised when Original statement ID is not 0 for Statement Type “NB” (New Statement).

Action Required – The inconsistency in the original statement ID has been ignored and original statement ID is considered as 0. In case the statement type is not “NB” (New Statement), kindly use the deletion functionality (Statement Type as “DB”) to delete the statement and file a new original statement.

13. What is Inconsistent Original Statement ID for No Data statement (40051)?

Issue Description – Inconsistent Original Statement ID for No Data statement (40051) is the issue raised when Original statement ID is not 0 for a Statement Type “ND” (No Data to Report).

Action Required – The inconsistency in the original statement ID has been ignored and original statement ID is considered as 0. In case Statement Type is not “ND” (No data to Report), kindly use the deletion functionality (Statement Type as “DB”) to delete the statement and file a new original statement.

14. What is Inconsistent Reason for correction for NB (40060)?

Issue Description – Inconsistent Reason for correction for NB (40060) is the issue raised when Reason for correction is other than “N” (Not applicable) for the Statement Type “NB” (New Statement).

Action Required – The inconsistency in the reason for correction has been ignored and reason for correction is considered as “N” (Not Applicable).

In case reason for correction is not “N”, kindly use the deletion functionality (Statement Type as “DB”) to delete the statement and file a new original statement.

15. What is Inconsistent Reason for correction for ND (40061)?

Issue Description – Inconsistent Reason for correction for ND (40061 is the issue raised when Reason for correction is other than “N” (Not applicable) for the Statement Type “ND” (No Data to Report).

Action Required – The inconsistency in the reason for correction has been ignored and reason for correction is considered as “N” (Not Applicable). In case reason for correction is not “N”, kindly use the deletion functionality (Statement Type as “DB”) to delete the statement and file a new original statement.

16. What is Inconsistent Reason for correction for CB (40062)?

Issue Description – Inconsistent Reason for correction for CB (40062) is the issue raised when Reason for correction is “N” (Not applicable) for the Statement Type “CB” (Correction Statement).

Action Required – The inconsistency in the reason for correction has been ignored and reason for correction is considered as “N” (Not Applicable). In case reason for correction is not “N”, kindly use the deletion functionality (Statement Type as “DB”) to delete the statement and file a new original statement.

17. What is Inconsistent Reason for correction for DB (40063)?

Issue Description – Inconsistent Reason for correction for DB (40063) is the issue raised when Reason for correction is other than “N” (Not applicable) for the Statement Type “DB” (Deletion Statement).

18. What is Inconsistent Reporting Period for CB (40071)?

Issue Description – Inconsistent Reporting Period for CB (40071) is the issue raised when the reporting period in Statement Type “CB” (Correction Statement) does not match with the reporting period of the original statement (Statement Type “NB”).

Action Required – The inconsistency in the reporting period of correction statement has been ignored and the reporting period of the original statement has been maintained. In case the reporting period in the original statement was incorrect, kindly use the deletion functionality to delete the statement and file a new original statement

19. What is Inconsistent Reporting Period/ Half Year (40072)?

Issue Description – Inconsistent Reporting Period/ Half Year (40072) is the issue raised when the period selected in the field “Reporting Period” & “Half Year” while submitting Form 61, on reporting portal, does not match with the “Reporting Period” mentioned in statement.

20. What is Inconsistent Reporting Period for DB (40073)?

Issue Description – Inconsistent Reporting Period for DB (40073) is the issue raised when the reporting period in Statement Type “DB” (Deletion Statement) does not match with the reporting period of the original statement (Statement Type “NB”).

21. What is Inconsistent Number of Reports (40100)

Inconsistent Number of Reports (40100) is raised when Number of reports mentioned in Part A does not match with the actual number of reports.

Action Required – The inconsistency in the field “number of reports” has been ignored and actual number of reports is considered as “number of reports.” In case the actual number of reports is not to be considered, kindly use the deletion functionality to delete the statement and file a new original statement

22. What is Failed Original Report Serial Number in CB (61_98000)?

Failed Original Report Serial Number in CB (61_98000) is the issue raised when Original Report Serial Number for Statement Type ”CB” (Correction Statement) does not match with the report serial number as mentioned in the Original Statement (Statement Type “NB”) submitted earlier.

23. What is Failed Original Report Serial Number in DB (61_98002)?

Failed Original Report Serial Number in DB (61_98002) is the issue raised when Original Report Serial Number for Statement Type “DB” (Deletion Statement) does not match with the report serial number as mentioned in Original Statement (Statement Type “NB”) submitted earlier.

24. What is Failed Original Report Serial Number in CB after Deletion (61_98003)?

Failed Original Report Serial Number in CB after Deletion (61_98003) is the issue raised when Original Report Serial Number mentioned in Statement Type “CB” (Correction Statement) corresponds to the report already deleted.

25. What is Failed Date of Birth Range (61_98071)?

Failed Date of Birth Range (61_98071) is the issue raised when Date of birth is not in valid year range (for individual) i.e., not before 01.01.1900 and not after the end of reporting period.

26. What is Invalid PAN Acknowledgment Number format (61_98440)?

Invalid PAN Acknowledgment Number format (61_98440) is the issue raised when Invalid format of PAN Acknowledgement number (15 digits) is entered.

27. What is Wrong PAN Acknowledgement Number (61_98441)?

Wrong PAN Acknowledgement Number (61_98441) is the issue raised when Wrong PAN Acknowledgement number is entered.

28. What is Invalid Aadhaar Number (61_98040)?

Invalid Aadhaar Number (61_98040) is the issue raised when Invalid Aadhaar Number format (12 digits) is entered.

29. What is Wrong Aadhaar Number (61_98041)?

Wrong Aadhaar Number (61_98041) is the issue raised when Wrong Aadhaar Number is entered

30. What is Invalid Postal code – India (61_98092)?

Invalid Postal code – India (61_98092) is the issue raised when Invalid postal code is provided when country selected is India.

31. What is Wrong Postal code – India (61_98093)?

Wrong Postal code – India (61_98093) is the issue raised when Wrong postal code is provided when country selected is India. Pin code provided should be linked to state and locality.

32. What is Insufficient Address (61_98094)?

Insufficient Address (61_98094) is the issue raised when Address appears to be Insufficient /incomplete

33. What is Failed Mobile No – India (61_98100)?

Failed Mobile No – India (61_98100) is the issue raised when Incorrect mobile number format is provided when country selected is India. It should be a 10 digit mobile number and should start from 5, 6, 7, 8 or 9.

34. What is Failed Mobile No – Outside India (61_98101)?

Failed Mobile No – Outside India (61_98101) is the issue raised when Incorrect mobile number format is provided when country selected is outside India.Maximum 15 digits are allowed.

35. What is Exceptional estimated agricultural Income (61_ 98450)?

Exceptional estimated agricultural Income (61_ 98450) is the issue raised when Amount reported is greater than 1 crore.

36. What is Modification in estimated agricultural Income (61_ 98451)?

Modification in estimated agricultural Income (61_ 98451) is the issue raised when “Estimated Agricultural Income” has been changed in Statement Type “CB” (Correction Statement).

37. What is Exceptional estimated non- agricultural Income (61_ 98460)?

Exceptional estimated non- agricultural Income (61_ 98460) is the issue raised when Amount reported is greater than 1 crore.

38. What is Modification in estimated non-agricultural Income (61_ 98461)?

Modification in estimated non-agricultural Income (61_ 98461) is the issue raised when “Estimated Non-Agricultural Income” has been changed in Statement Type “CB” (Correction Statement).

39. What is Exceptional Transaction Amount (61_98252)?

Exceptional Transaction Amount (61_98252) is the issue raised when Transaction Amount is more than 1 crore.

40. What is Modified Transaction Amount (61_98255)?

Modified Transaction Amount (61_98255) is the issue raised when Transaction Amount has been changed in Statement Type “CB” (Correction Statement).

8. Resources

8.1  Quick Reference Guides

1. What is a quick reference guide? How can user access/download it?

Quick reference guide provides a concise & targeted course of action for performing the tasks. It can be downloaded from the resources section of Reporting Portal.

8.2 User Guides

1. How can one download detailed guides?

User guides can be downloaded from the resources section of Reporting Portal.

8.3 Schema Guides

1. What are the schema guides and how can they be useful?

Schema guides are meant to assist in creation of xml files in the format acceptable to the Income tax Department. The acceptable schema guides are published from time to time for each type of statement to be submitted by the Reporting Entity and these guides must be adhered to for submission of error free statements by the entity.

2. How can one download the schema guides?

Schema guides can be downloaded from the “Resources” section of Reporting Portal.

8.4  Training Tool Kit

1. What is a training tool kit?

Training Toolkit contains multiple documents intended to give assistance to Reporting Entity users in using the Reporting Portal and reporting utility.

2. How can one access the training tool kit?

Step 1: Log in to the Reporting Portal

Step 2: Navigate to the “Resources” tab and click on “Training Tool kit”

9. Others

9.1  My query/problem is not listed here

1. What should a user do if its query/problem is not listed in FAQs?

Step 1: Click on the “Help” icon on the Reporting Portal

Step 2: Click on “Contact us” button

Step 3: Select the issue category and sub-category

Step 4: Enter details if user is not logged in/registered

Step 5: Click on “Email Us” and describe the problem being faced and click on “Submit”

Source- Directorate of Income Tax (Systems), Reporting Portal Frequently Asked Questions (FAQs)
Version 2.0 (April 2018)

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